(Interview) Tesla CEO Elon Musk has asked the US government to sit back and “do nothing” about crypto regulation as any intervention could curtail growth.
Musk says it is not possible to destroy crypto, but any kind of government intervention is likely to slow down its growth.
Musk asks regulators to let cryptocurrencies fly, saying it’s not like the second coming of the Messiah.
The Tesla CEO feels that the recent reign on cryptocurrencies by China reflects the fears that the digital assets threaten the Community Party influence. He feels other regulators are afraid that digital assets will dampen centralized control.
Musk’s comments contradict crypto leaders who feel that industrial laws could give more investor protection and clarity. SEC’s chair Gary Gensler has called for greater oversight of the crypto industry.
BTCUSD is up +3.07%, ETHUSD is up +4.16%.
