October 22, 2021

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Elon Musk’s New Cryptocurrency Prize Against US-China Synonymy From Investing.com

© Reuters.

By Laura Sanchez

Investing.com – Tesla (NASDAQ:) CEO and Founder Elon Musk has once again appeared to defend cryptocurrency. Pole warns that the US government should avoid trying to regulate the cryptocurrency market.

“I think it is not possible to destroy cryptocurrencies, but it is possible for governments to slow their progress,” Musk said at a conference in California.

Musk was answering a question from The New York Times About whether the country’s government should be involved in regulating the crypto space.

“I would say, ‘Don’t do anything,'” Musk said.

Musk also addressed China’s role in cryptocurrency mining and regulation. He said the “heavy hand” might relate to “the country’s significant electricity generation problems”.

“Part of this may be due to the lack of electricity in many parts of China,” Musk said. Musk explained, in data I collected: CNBC.

“I suppose the primary goal of cryptocurrency is to reduce the power of the central government, and they don’t like that,” Musk said.

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