SEC's Gensler Calls Stablecoins ‘Poker Chips' at the Wild West Crypto Casino  

The SEC chair also compared the crypto boom to the Wildcat banking era of the 19th century, saying that “history tells us that private forms of money don't last long.”

https://www.coindesk.com/policy/2021/09/21/secs-gensler-calls-stablecoins-poker-chips-at-the-wild-west-crypto-casino/