Elon Musk: US Authorities Must Release Crypto Market

The US authorities should completely liberalize the cryptocurrency market and not impose strict rules on using digital currency. That is the opinion of CEO Elon Musk of the electric car maker Tesla.


Let cryptocurrencies “fly,” Musk said at a conference in Beverly Hills, California. Musk regularly talks about digital currencies, including on social media.

Securities and Exchange Commission (SEC) chairman Gary Gensler said earlier this week at that conference for programmers that things will go wrong if the crypto market is not regulated. He, therefore, wants stricter supervision of that market. In China, all transactions with cryptos are now banned.

But Musk disagrees. “I’d say don’t do anything. Just let it fly,” said the multi-billionaire. He went on to say that while cryptos cannot be destroyed, governments can slow down the advance of digital currencies.

Musk also said the administration of US President Joe Biden is “biased” against Tesla. He referred to an event at the White House where Biden praised the efforts of automakers Ford and General Motors (GM) on electric driving but did not mention Tesla. According to Musk, the Biden administration is also very heavily influenced by unions.

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