Tesla CEO said regulators around the world should loosen their grip on the cryptocurrency industry.
During a speech at the Code Conference in Beverly Hill, Musk said that regulators are unnecessarily concerned about the threat of cryptocurrencies.
I would say, don't do anything with crypto, just let it fly.
Commenting on the latest ban by the Central Bank of China on all financial transactions with cryptocurrencies, Musk said:
I think that it is impossible to destroy cryptocurrency, but the authorities can slow down its development. Basically, cryptocurrency is aimed at reducing the influence of a centralized government, and they don't like it.
Subscribe to ForkNews on Telegram to stay up to date with the latest news from the world of cryptocurrencies
You May Also Like
The fate of cryptocurrencies is being decided by officials involved in drug trafficking
While some members of the cryptocurrency community disagree that drug trafficking and money laundering are illegal, the hypocrisy of those who write these laws is astonishing.
Snowden supports cryptocurrencies, but criticizes their algorithms
In his interview with Ben Wiesner of the ACLU Project, Edward Snowden several times emphasized the vital need for cryptocurrency to have people believe in its value. Fiat currencies are essentially not worth their face value. The government that issues the currency acts as the guarantor of its face value.
