US Doesn’t ‘Need More Digital Currency,’ SEC Chief Says as Agency Cracks Down on Crypto

US Securities and Exchange Commission (SEC) chair Gary Gensler in Washington, on Sept. 14, 2021. Reuters/Evelyn Hockstein

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.