Tesla CEO Musk once again expressed his views on Crypto

Musk once again fought back against the actions of US regulators in the Crypto sector. At the Crypto conference that ended on Wednesday, Musk expressed his views on the ongoing regulatory struggle between the US government and the Crypto sector.

He stated that regulators should not try to regulate the Crypto market and require regulators to “take no action.”

During the period when the infrastructure bill was not passed, Musk called on the government not to rush to supervise the Crypto industry, and regulations that endanger the Crypto industry should be carefully considered .

Tesla CEO Musk once again expressed his views on Crypto

Musk believes that it is impossible for regulators to completely destroy the Crypto field with regulations. He believes that the government can slow its growth rate, but it is impossible to eliminate it completely.

When talking about this, Musk said: “I think it is impossible to destroy the Crypto field, but the government may slow down its development.”

Musk has always publicly expressed his support for Crypto, and his tweets have promoted the meme coin Dogecoin to become the top 10 Crypto by market value.

As an early supporter, he has always believed in the future value of Crypto to technology. Earlier this year, Tesla, with Musk as CEO, began accepting Bitcoin as a payment method for its electric cars.

Musk also commented on the crypto mining operations that are under investigation in parts of Asia, and even crypto mining has been completely banned in China because of energy issues.

Tesla CEO Musk once again expressed his views on Crypto

Speaking of this, Tesla’s chief executive acknowledged that there are “significant power supply problems” in China. Musk explained that the crackdown can be attributed to power outages in the southern regions of the country, and that mining may be one of the reasons for the power outages in these areas. 

Musk’s company, Tesla, announced that it would accept Crypto as a means of payment, and ceased this method. Tesla pointed out that energy problems are the main reason. Once the energy consumption of its mining activities is reduced to the threshold of using at least 50% renewable energy, Tesla will consider accepting this type of Crypto again.

SpaceX CEO also pointed out, “I think Crypto reduces the power of centralized institutions, maybe they don’t like this.”

The original text comes from bitcoinist, compiled and compiled by Blockchain Knight, and the English copyright belongs to the original author.

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