He believes they are more likely to be seen as a store of value rather than a replacement for national currencies. Drawing on historical context, Gensler highlighted the tendency of countries to maintain a single currency due to its crucial role as a store of value, medium of exchange and unit of account.<\/p>\n
He invoked Gresham’s law, a 19th century principle, to argue that “bad money drives out good money<\/em>“, reinforcing the importance of national currencies over alternatives such as cryptocurrencies<\/strong><\/a>.<\/p>\n As for the broader crypto landscape, Gensler noted<\/strong><\/a> that the SEC remains “merit neutral<\/em>” and relies on the public to decide whether specific cryptocurrencies are useful through appropriate disclosure.<\/p>\n