Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC), today described cryptocurrencies as "an asset class that's highly speculative" and that in many cases, "there is not something standing behind it other than what somebody else will pay for it." Speaking during a livestreamed interview with The Washington Post, Gensler added that the value of cryptocurrencies "could go down dramatically, they could go up dramatically." Gensler added that it is important for cryptocurrency innovation not to “undermine the stability of the system.” “I think it’s better to bring it inside the public policy ... (full story)