SpaceX CEO Elon Musk Says Governments Cannot Destroy Crypto, Can Only Slow It Down

Talking at the Code Conference which concluded Wednesday, Musk gave his opinions on the current regulatory battle being waged between the United States government and the crypto space. The CEO said that regulators should not try to regulate the crypto market, and asked the government to “do nothing” to regulate the space.

During the infrastructure bill fiasco, Musk had called upon the government to avoid rushing to regulate the crypto industry. Asking that careful considerations be made before putting into law regulations that would harm the crypto industry.
Musk also explained that it was impossible for the government to completely destroy crypto with regulations. The billionaire admitted that the government could slow down its growth, but there was no way it would eliminate cryptos completely. Speaking on this, Musk said, “It is not possible to, I think, destroy crypto, but is possible for governments to slow down its advancement.”

The CEO has always been vocal about his support for cryptocurrencies, with his tweets pushing meme coin Dogecoin to become a top 10 cryptocurrency by market cap. An early supporter, he has always believed in the value that cryptocurrencies posed for the future of technology.  Tesla, on which Musk serves as CEO, had earlier in the year begun accepting bitcoin payments for its electric vehicles.

Source: bitcoinist.com