Elon Musk, CEO of Tesla, opposed governments that regulate crypto and says they should do nothing regulation
Elon Musk, CEO of Tesla, opposed governments that regulate crypto and says they should do nothing regulation
Elon Musk, CEO of Tesla, believes that governments should not try to regulate the cryptocurrency. "I would say nothing," he recommended. Musk believes that it is not possible to destroy crypto, but governments can "slow down his progress".
Elon Musk says that governments should "do nothing" and leave crypto alone
Elon Musk, CEO von Tesla, discussed on Tuesday at the Code Conference in Beverly Hills, California, about cryptocurrency and China. When asked by the New York Times columnist Kara Swisher, whether it is “the right” for governments to regulate and control cryptocurrencies, and whether it is possible, he said:
I think it is not possible to destroy crypto, but it is possible that governments slow down their further development.
Musk was specifically asked what the US government should do with regard to cryptocurrency. The chairman of the US Securities and Exchange Commission (Sec), Gary Gensler, was previously on stage at the conference and called cryptocurrency the wild west of finance. The SEC boss also emphasized that the cryptocurrency " not good end ”if it remains outside the area of responsibility of the regulatory authorities.
When asked what the SEC should do in relation to crypto, the Tesla boss said:
I would say nothing.
he emphasized: "I would not [do anyding], seriously", and explains that the governments should "simply let".
Musk continued to talk about the long -term role of cryptocurrency in currency systems. He found that crypto "hopefully reduce the error and latency in the monetary system, the legacy money system".
The Tesla technology has shown his support for cryptocurrency on several occasions. In August he spoke, on the other hand, spoke governments that suggest the "premature" crypto laws. Muschus beforehand unveiled that he personally had bitcoin, Ethereum and Dogecoin, while His companies Tesla and SpaceX only had Bitcoin. In July he indicated that Tesla in possession approx. 42k btc . In addition, Musk is sometimes called Dogefather because of his most strongest " cryptocurrency for payments.
In terms of cryptocurrency in China, Musk was asked at the conference what the Chinese government is doing with regard to cryptocurrency and Bitcoin. He replied: "Well, it seems that they don't love cryptocurrency."
Without expressly stating the reasons why China is doing against crypto, he said: "China has some significant problems with electricity generation." The CEO of Tesla said: "So I think part of it could actually be due to the shortage of electricity in many parts of China. Many South China currently have random power failures because the electricity requirement is higher than expected, so that crypto mining could play a role. I am not sure." He closed:
I assume that cryptocurrency essentially aims to reduce the power of a centralized government, and you don't like that.
Do you agree to Elon Musk that governments should "do nothing" and leave crypto alone? Let us know in the comment area below.
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