I think he is well aware of what crypto, blockchain represent.
The dilemma here has to do for the people he is working for.
He used to work for Goldman-Sachs and then for the SEC to protect again the banks.
His approach will always be bias concerning crypto or
sort of against it in the long run.
All he is doing buy time for the banks to dictate
the way crypto will grow so they can somehow control it.
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He might be trying to do that but we are seeing something else taking place: massive development. It is a battle of wills right now.
There will be massive negotiations taking place down the road. In the US, this means lobbyists, court cases, and lots of money.
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