Elon Musk Urged The US Government To Steer Clear Of Regulating Cryptocurrencies

Elon Musk, the CEO of Tesla and SpaceX, has called on the US government not to regulate cryptocurrencies in an interview with Kara Swisher.

Tesla Chief Executive Officer Elon Musk thinks authorities aren’t able to “destroy” the digital asset business. Musk suggested that the U.S. government allow the cryptocurrency to “fly” instead of implementing rules over it. In addition, he explained his reasons as to why China takes a skewed stance toward cryptocurrency.

Elon Musk is an American business magnate, investor, engineer, and inventor. He has served as the CEO of SpaceX and Tesla Motors and is the founder of The Boring Company. He also co-founded PayPal with Peter Thiel. Recently, in an interview, Kara Swisher, prominent entrepreneur and business magnate Elon Musk, gave his opinion on the top issues in digital assets.

Musk fears that governments will seek to control the decentralized nature of cryptocurrencies to protect their currencies. He believes that this would turn these currencies into “just another asset” rather than a “borderless digital currency.”

While admitting that he’s not a “huge expert on cryptocurrencies,” Tesla’s Tesla founder said bitcoin and altcoins could be valuable for the financial sector. They can “reduce errors and delays in the financial system.”

Another advantage that has been identified is the fact that digital assets are distributed assets, making it challenging for authorities to regulate the digital assets.

After the this interview with Kara Swisher, we can say that Musk is not very convinced with cryptocurrencies and he doesn’t want the US government to regulate it.

Also Read: Elon Musk Claims That It Is Impossible To Destroy Crypto

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