Elon Musk opposes governments!

Yeah, he’s spoken again. And this time about possible regulations from various governments. Musk believes that governments should not try Bitcoin and other

cryptocurrency

. “I would say, do nothing,” he advised.

Musk opposes governments

So do nothing and leave the cryptos alone. That’s Musk’s advice. He discussed the state of affairs about cryptos last week. In response to a question from New York Times columnist

Kara Swisher

about the question 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, I think, to destroy crypto, but it is possible for governments to delay its progress

Musk

Regulation

He was asked the specific question what the US government should do with regard to cryptocurrency. US Securities and Exchange Commission (SEC) chairman Gary Gensler took the podium earlier in the conference. He called cryptocurrency the Wild West of finance. The SEC chief also stressed that cryptocurrency “will not end well” if it remains outside the purview of regulators.

In response to the question of what the SEC should do crypto, Tesla boss said: I would say, do nothing.

Musk went on to talk about the long-term role of cryptocurrency in monetary systems. He noted that crypto will “hopefully reduce the flaw and latency in the money system, the old money system.” China and the crackdown there were also discussed. He replied: “Well, it seems they don’t like cryptocurrency. I suppose cryptocurrency is fundamentally aimed at reducing the power of a centralized government and they don’t like that.”

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