Regardless of the unprecedented regulatory strain that crypto has been dealing with just lately in the USA, the battle between the American authorities and the crypto business has simply began, believes ShapeShift CEO Erik Voorhees.
In line with the entrepreneur, U.S. authorities nonetheless don’t see crypto as an existential risk to the fiat system, and their current crackdown is simply an opportunistic response to final yr’s blowups of fraudulent crypto corporations.
“They see it as kind of this scammy space the place they will are available and appear like the hero for cleansing up a multitude,” Voorhees stated in an unique interview with Cointelegraph.
In line with Voorhees, crypto must change into mainstream earlier than governments transfer towards it absolutely. At that time, “it will likely be too late” for presidency actors to crack down on crypto since too many individuals will concentrate on its worth and utility.
Voorhees has little question that crypto will in the end win the battle for the hearts and minds of individuals partially as a result of it’s free from the restrictions on capital move which might be current in conventional finance methods.
“Capital goes the place friction is least […]. Within the crypto world, capital strikes freely, it strikes effortlessly,” he identified.
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