According to Saylor, regulators are likely to crack down on the crypto sector by opting to ban any innovations, a scenario he suggested would benefit assets like Bitcoin (BTC), he said during an interview with Natalie Brunell on November 14. He stated that Bitcoin, as the ‘apex’ cryptocurrency, is the ultimate store of value likely to gain in the existence of effective regulations while suggesting that jurisdictions can also opt to be progressive in crypto laws.
Progressive regulation approach
At the same time, Saylor noted that regulators could adopt a progressive approach by providing clarity in the sector. For instance, he pointed out that clarity can be beneficial by offering guidance on registering crypto products to avoid the FTX exchange fate. According to Saylor: Saylor’s stand on Bitcoin’s sustainability in the wake of possible regulations aligns with his bullish stand on the flagship cryptocurrency. As reported by Finbold, Saylor has previously termed Bitcoin as a channel toward freedom.
Impact of lack of regulations
Interestingly, Saylor blamed the lack of regulations for recent events in the crypto space, stating that the government has adopted a slow response. Saylor generally termed the FTX collapse that was triggered by the liquidity crunch an expensive financial lesson. wouldn’t have seen all of these, you know, crypto casinos spin up the way they’ve spun up,” he added.
Saylor’s take on SBF
Additionally, in an interview with Yahoo Finance on November 15, Saylor shared his opinion regarding Bankman-Fried for overseeing the FTX collapse. Interestingly, Saylor drew comparisons between Bankman-Fried and former stockbroker, commonly known as the “Wolf of Wall Street,” Jordan Belfort. It is worth noting that amid the FTX crisis, the United States is among the jurisdictions working on pieces of legislation to manage the space. Some of the regulations include the comprehensive crypto bill by Wyoming senator Cynthia Lummis. Indeed, after the FTX saga, the White House is among the entities that have called for the sector’s regulation. Watch the full interview below: Featured image via Natalie Brunell YouTube
