Mask gave advice to US authorities

Tesla founder Ilon Mask gave the Council of Securities and US Exchange Commission (SEC) “Nothing” in relation to cryptocurrency and did not approve the regulation of the market by the American authorities. Speaking about the prohibition of China to produce cryptocurrencies, Mask said that the PRC considers digital money as interference with centralized power in the country. Such an opinion, the billionaire expressed in an interview at the CodeCon conference.

he added that this is the value of cryptocurrency – states are not able to control them. “I believe that cryptocurrencies are based on their reducing the power of the centralized government, and they [by the Chinese authorities] do not like it, this is my assumption,” the entrepreneur says. To the ban of mining, according to the mask, the PRC could also push the frequent interruptions in the supply of electricity, which are primarily suffering from the southern provinces of China. Since before his statements in social networks significantly influenced the cryptocurrency market, Mask joked, which will be happy if the market go up. The head of Tesla is confident that governments will not be able to destroy cryptocurrency, but will try to slow down the development of the industry.

Developed economies around the world thought about the control of the growing crypto industry: the market capitalization of the most famous currency, Bitcoin, has already exceeded $ 796 billion. The Chinese Central Bank has advanced on all – on September 24, his representatives called illegal all activities related to digital money, and announced further measures to prevent trade in cryptocurrency and their production.

Chairman of the American SEC Gary General also actively strengthens the control over the market – the Commission threatened several times by lawsuits to the participants of the sector and recently introduced sanctions against a crypto exchanger. Gensen called the industry “the West West of the Financial System” of the United States, which “desperately needs the rules.”

/Media reports.