[ad_1]
Billionaire venture capitalist Chamath Palihapitiya believes that regulators are effectively kicking crypto out of the United States.
In a new All-In Podcast episode, Palihapitiya says that regulators, including U.S. Securities Exchange and Commission (SEC) Chair Gary Gensler, are dead set on coming after the nascent industry.
According to the billionaire investor, crypto now represents such a threat to the government and the current financial system that regulators are doing everything they can to drive the digital asset space out of the country.
“Crypto is dead in America. You had Gensler even blaming the banking crisis on crypto. So the United States authorities have firmly pointed their guns at crypto…
I just think that they were probably the ones that were the most threatening to the establishment, and they were the ones that, in fairness to the regulators, did push the boundaries more than any other sector of the startup economy. So now, they’re paying the price for that. The bill has come due for them.”
Palihapitiya also blasts the SEC for giving Coinbase a hard time, even though the crypto exchange is trying to play by the rules. The venture capitalist highlights that bankrupt crypto exchange FTX was the closest to getting the nod from the top regulatory body.
“Coinbase played by the rules, stood in line, tried to do the right things. It seems that every step along the way, everything from board composition, to executive composition, to how they try to interact with the regulators, yet they were probably the furthest away from getting a license. The one that came the closest was the one that was the most fraudulent, which is FTX. How is that even possible?”
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
![](https://dailyhodl.com/wp-content/uploads/2018/06/Get-Alerts-728x90.png)
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Terablete
Generated Image: DALLE-2
[ad_2]
Source link