Regardless of the unprecedented regulatory strain that crypto has been dealing with just lately in america, the struggle between the American authorities and the crypto trade has simply began, believes ShapeShift CEO Erik Voorhees.
Based on the entrepreneur, U.S. authorities nonetheless don’t see crypto as an existential risk to the fiat system, and their current crackdown is simply an opportunistic response to final 12 months’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 mentioned in an unique interview with Cointelegraph.
Based on Voorhees, crypto must change into mainstream earlier than governments transfer in opposition to it absolutely. At that time, “it will likely 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 in the end win the battle for the hearts and minds of individuals partially as a result of it’s free from the restrictions on capital circulation 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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