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Tesla CEO Elon Musk Opposes Governments Regulating Crypto...

• https://news.bitcoin.com, by Kevin Helms

Tesla CEO Elon Musk thinks governments should not try to regulate cryptocurrency. "I would say, do nothing," he recommended. Musk believes that it is not possible to destroy crypto, but governments can "slow down 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 question from New York Times columnist Kara Swisher about whether it is "the right thing" for governments to regulate and take control of cryptocurrency, and whether it is possible for them to do so, he said:

It is not possible to, I think, destroy crypto but it is possible for governments to slow down its advancement.

Musk was specifically asked what the U.S. government should do regarding cryptocurrency. The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, was on stage at the conference earlier and he called cryptocurrency the Wild West of finance. The SEC chief also stressed that cryptocurrency will "not end well" if it stays outside the purview of regulators.

Responding to the question of what the SEC should do about crypto, if anything, the Tesla boss said:

I would say, do nothing.

He emphasized, "I wouldn't [do anything], seriously," elaborating that governments should "just let it play."


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