I think he has a point about the volatility of crypto making it hard to be a viable means of transactions. That's why stablecoins exists, but many of them haven't been able to do a great job.
Maybe this vice chair has to understand that we don't need the 'stability of crypto' to make it as a viable means of transactions.
RE: Fed Reserve Vice Chair Saying "Cryptocurrency Unlikely To Be Substitute For Fiat" Is Wildest Joke Ever Especially With What's Already Happening