WASHINGTON—Securities and Exchange Commission Chair Gary Gensler said Tuesday helium doesn’t spot overmuch semipermanent viability for cryptocurrencies, underscoring the value of protecting investors successful the marketplace and bringing it nether regulatory oversight.
Mr. Gensler likened the thousands of cryptocurrencies successful beingness to the alleged wildcat banking epoch that took clasp successful the U.S. from 1837 until 1863 successful the lack of national slope regulation. Before President Abraham Lincoln created the Office of the Comptroller of the Currency, banks issued their ain currencies, which they sometimes refused to redeem for their purported worth successful golden oregon silver.
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