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Tesla CEO Elon Musk: U.S. Government Should Avoid Regulating Crypto

Amy Liu

Summary: Tesla CEO Elon Musk on Tuesday said the U.S. government should steer clear of trying to regulate the crypto market, according to CNBC. “It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement,” Musk said at the Code Conference in Beverly Hills, California. “I would ...

Tesla CEO Elon Musk on Tuesday said the U.S. government should steer clear of trying to regulate the crypto market, according to CNBC. “It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement,” Musk said at the Code Conference in Beverly Hills, California.

“I would say, ‘Do nothing,’” he said. “I wouldn’t say that I’m a massive cryptocurrency expert...I think there’s some value in cryptocurrency." Tesla said early this year that it had purchased $1.5 billion worth of bitcoin. The value of those holdings swelled to about $2.5 billion in the second quarter as bitcoin prices surged. 

By Amy Liu

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