The U.S. economy does not need any more digital currencies, according to Gary Gensler, the Securities and Exchange Commission (SEC) chief.
Appearing on CNBC’s “Squawk on the Street” on June 6, Gensler asserted that cryptocurrency and virtual tokens are unnecessary in today’s economic landscape.
“Look, we don’t need more digital currency,” he told the business news network. “We already have digital currency. It’s called the U.S. dollar. It’s called the euro, or it’s called the yen; they’re all digital right now. We already have digital investments.”
As the digital revolution has seeped into the global economy, various financial and payment systems have gone digital….