THELOGICALINDIAN - Tesla CEO Elon Musk thinks governments should not try to adapt cryptocurrency I would say do annihilation he recommended Musk believes that it is not accessible to abort crypto but governments can apathetic bottomward its advancement
Elon Musk Says Governments Should ‘Do Nothing’ and Leave Crypto Alone
Tesla CEO Elon Musk discussed cryptocurrency and China on Tuesday at Code Conference in Beverly Hills, California. Responding to a catechism from New York Times columnist Kara Swisher about whether it is “the appropriate thing” for governments to adapt and booty ascendancy of cryptocurrency, and whether it is accessible for them to do so, he said:
Musk was accurately asked what the U.S. government should do apropos cryptocurrency. The administrator of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, was on date at the appointment beforehand and he alleged cryptocurrency the Wild West of finance. The SEC arch additionally fatigued that cryptocurrency will “not end well” if it stays alfresco the ambit of regulators.
Responding to the catechism of what the SEC should do about crypto, if anything, the Tesla bang-up said:
He emphasized, “I wouldn’t [do anything], seriously,” elaborating that governments should “just let it play.”
Musk proceeded to allocution about the abiding role of cryptocurrency in budgetary systems. He acclaimed that crypto “will hopefully abate the absurdity and cessation in the money system, the bequest money system.”
The Tesla technoking has apparent his abutment for cryptocurrency on several occasions. In August, he spoke against governments proposing “hasty” crypto legislation. Musk ahead revealed that he alone endemic bitcoin, ethereum, and dogecoin while his companies, Tesla and Spacex, aloof endemic bitcoin. He hinted in July that Tesla owned about 42K BTC. Furthermore, Musk is sometimes alleged the Dogefather for his support of the meme cryptocurrency dogecoin. He sees DOGE as the “strongest” cryptocurrency for payments.
Regarding cryptocurrency in China, Musk was asked at the appointment what the Chinese government is accomplishing about cryptocurrency and bitcoin. He replied: “Well, it would arise that they don’t adulation cryptocurrency.”
Without accurately advertence the affidavit why China has been arise bottomward on crypto, he said, “China is accepting some cogent electricity bearing issues.” The Tesla CEO opined: “So, I anticipate allotment of it may absolutely be due to electricity shortages in abounding genitalia of China. A lot of South China appropriate now is accepting accidental ability outages because the ability appeal is college than accepted so crypto mining ability be arena a role in that. I’m not sure.” He concluded:
Do you accede with Elon Musk that governments should “do nothing” and leave crypto alone? Let us apperceive in the comments area below.
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