Government can slow down crypto but not destroy : Elon Musk

Government can slow down crypto but not destroy : Elon Musk 2

Elon Musk shared his point of view on crypto and suggested the US government to do nothing with crypto. 

In the present time crypto discussion is at tremendous level. On one side the US government is ready to hammer on the crypto industry through a new crypto infrastructure bill, on the other side China is spreading fuds with crypto ban. While China already banned all crypto related operations from China. 

Read also: Chinese central bank issues warning against all crypto exchanges available for China’s citizens : FUD

At the Code Conference in California, Elon Musk talked about Crypto. Elon Musk said that any government can slow down the progress and adoption of crypto but can’t destroy it, CNBC reported. 

On the matter of China’s ban on crypto, Elon said that the decision to ban crypto was part of the electricity shortage. There are many cities in South China, which are facing a shortage of electricity supply. So the decision of China was to recover from the problem of electricity shortage.

As usual, Elon Musk doesn’t consider himself as a crypto expert but still has a better position and leadership in the crypto industry because of DogeCoin & Bitcoin. When Elon Musk questioned that what he think about the US government involvement in the crypto regulation then Elon Musk said 

“I would say, ‘Do nothing.’”

This is not the first time when Elon Musk talked about the regulation on crypto by US regulators. Earlier this when the Crypto infrastructure bill was proposed, Elon Musk tweeted about that and said that we are not in that situation where we needed to take action in quick circumstances. 

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