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  • Barry Silbert has recently said that he believes the United States has passed the point of no return when it comes to banning the leading cryptocurrency, bitcoin. 
  • Speaking in an investor call, the CEO said he was cautiously optimistic when it came to regulation in the US for improving or at least not getting worse for bitcoin and the industry. 

The chief executive officer of the crypto investment firm Grayscale investments, Barry Silbert has recently said that he believes the United States has passed the point of no return when it comes to banning the leading cryptocurrency, bitcoin. 

Speaking in an investor call on the 16th of July last week, the CEO said that he was cautiously optimistic when it came to the regulation chances in the US for improving or at least not getting worse for bitcoin and the industry. He further said:

“For the first time ever, we are past the ‘ban bitcoin’ perceived risk. There’s enough support in DC from policy makers and regulators that Bitcoin has a right to exist and ultimately you can’t shut it down.”

Silbert further went on to talk about relationships with regulators and that they are much better off due to the efforts made by some crypto related groups such as the blockchain association and coin center.

“As an industry, we’re just much better off than we’ve ever been from a relationship perspective out in DC. [These two groups are] educating policy makers around the benefits of this technology in this asset class. The catastrophic regulatory policy risk that maybe would have existed previously in DC is behind us.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

(Excerpt) Read more Here | 2020-07-20 11:05:01

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