THELOGICALINDIAN - Tesla CEO Elon Musk says there is no crisis that compels hasty cryptocurrency adjustment He agrees with Coinbase CEO Brian Armstrong that the US government should not aces winners or losers in cryptocurrency innovation
Elon Musk and Coinbase CEO Agree on Crypto Regulation
Tesla CEO Elon Musk has chimed in on the acrimonious altercation of the U.S. government acrimonious winners and losers in the crypto space. This followed the endorsement by the White House of a crypto tax alteration to the $1 abundance basement bill that the crypto industry and several assembly accept opposed.
The Tesla CEO responded to a cilia on Twitter started by Coinbase CEO Brian Armstrong about the crypto tax alteration “that would adjudge which basal technologies are ok and which are not in crypto,” Armstrong wrote. “This is disastrous.”
Musk tweeted, “Agreed, this is not the time to aces technology winners or losers in cryptocurrency technology.” He added, “There is no crisis that compels hasty regulation.”
Armstrong explained: “Senator Mark Warner has asked for affidavit of pale validators to accede with the impossible, but not affidavit of assignment miners. Why? It’s not clear, but we could acquisition ourselves with the Senate chief which types of crypto will survive government regulation.”
Facing backfire from the crypto industry and added lawmakers, Senator Warner revised his proposed alteration Saturday. While it no best banned the validator barring to proof-of-work, it still does not assure agreement developers, acute them to address affairs to the Internal Revenue Service (IRS) like Coinbase does.
The Coinbase CEO additionally warned that if the senators voted for the alteration by Sen. Mark Warner, “we will see approaching development of blockchain technology move adopted to countries like China that are currently all-embracing it,” elaborating:
Do you accede with Elon Musk and Brian Armstrong? Let us apperceive in the comments area below.
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