Novogratz: The government’s regulation on crypto is upside-down

Last Updated on 10 mins by John Piper

Galaxy Digital CEO Mike Novogratz addressed the regulatory issues surrounding crypto. He suggested in a conference call that the government is “upside-down” when it comes to its priorities.

Novogratz shared his insights during the fourth quarter call. Investors and shareholders were surprised that the government was so focused on cryptocurrency regulation, he said. He believes they should prioritize addressing artificial intelligence regulation and consider crypto as a possible solution.

“If the government is trying to press banks not to participate in crypto, and if it’s regulatory enforcement following regulatory enforcement, the SEC seems like it’s issuing Wells letters every week, then there will be a lot of judicial proceedings. This is not good news for innovation and it’s not good to America’s chances of leading this industry. So we’re fighting back.

Novogratz’s “deep fake” world refers the difficulty in proving identity in a digital environment. He highlighted blockchain and crypto as an option to address the digital identity crisis.

“You know, like the deep fake world will be so much more common and so how can you prove your identity in a universe like that?” “Crypto and Blockchain will play a major role in that.” It’s stupid to think we should cache this sector because Sam Bankman-Fried is wearing Bermuda shorts.

Novogratz: Crypto is on the rise

Galaxy’s primary goal is to bridge the gap between traditional financial services and the new world of digital assets. This goal has made the company one of the most prominent and well-known in the digital asset sector. Novogratz and other Galaxy shareholders are optimistic about Bitcoin and see a bright future.

“Despite what you might think are insurmountable chances, crypto prices have risen, activity has increased, and we see an interesting future.”

Coin Insider’s first article, Novogratz: The government’s crypto regulation is upside-down, appeared first on Coin Insider.

Be the first to comment

Leave a Reply

%d bloggers like this: