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Regulator interest is good for the crypto ecosystem, says BlockFi CEO

June 11, 2021. Summarized by summa-bot.

Compression ratio: 51.3%. 1 min read.

BlockFi CEO Zac Prince expects that the clarity that comes with regulations will positively impact the crypto industry.

BlockFi CEO Zac Prince agrees with United States Senator Elizabeth Warren that there is a lot of noise in the crypto industry.

Describing regulators’ interest in the crypto as a natural evolution of the technology, Prince said that discussions like Wednesday’s Senate Banking Committee hearings are very positive trends overall for the crypto sector.

It’s easy to miss the forest through the trees, he said, highlighting that crypto is an asset class that has generated substantial wealth for millions of people.

The crypto industry is creating lots of new jobs across the board, Prince noted, stating, “This is something that we want to continue to happen in America. ”

This week, the Senate Banking Committee discussed a U. S. government-backed central bank digital currency in a session where Massachusetts Democratic Senator Elizabeth Warren took a generally critical stance against crypto.

by summa-bot

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