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Regardless of the unprecedented regulatory strain that crypto has been going through lately in the US, the battle between the American authorities and the crypto business has simply began, believes ShapeShift CEO Erik Voorhees.
In keeping with the entrepreneur, U.S. authorities nonetheless don’t see crypto as an existential menace to the fiat system, and their current crackdown is simply an opportunistic response to final yr’s blowups of fraudulent crypto firms.
“They see it as form of this scammy space the place they will are available and seem like the hero for cleansing up a large number,” Voorhees stated in an unique interview with Cointelegraph.
In keeping with Voorhees, crypto must develop into mainstream earlier than governments transfer in opposition to it absolutely. At that time, “it is going to 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 doubt that crypto will finally win the battle for the hearts and minds of individuals partly as a result of it’s free from the restrictions on capital circulate which can 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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