Elon Musk Insists That the U.S. Authorities Should Stay Away From Crypto
During the Code Conference that took place in California, Elon Musk vocalised his opinion about the regulation of cryptocurrencies in the USA. He is sure that the authorities should stay away from it.
“I don’t believe that crypto can be destroyed but the governments can slow down its development significantly”, said Musk. He also noted that he believes that crypto has the potential but won’t be able to solve all the problems of society.
Concerning the Chinese crackdown, Musk believes that it can be connected to the problems with the electricity production fueled by mining. In addition, he agreed that cryptocurrencies contradict the Chinese communist policy by reducing the role of government in people’s lives.