In the cryptocurrency market, some investors still fear that the (US) government will at some point decide to ban bitcoin (BTC).
Billionaire investors Ray Dalio, founder of the largest hedge fund in the world with Bridgewater, thinks this will happen after all. While regulations have generally become stricter in recent times, Gemini CEO Tyler Winklevoss thinks it is already too late for a complete ban.
In an April 2 interview with Peter McCormack, Winklevoss says we’ve already passed the tipping point:
“I don’t think the US will ever ban Bitcoin. Too much precedent has already been set in the courts. The Coinflip decision, a CFTC enforcement measure enforced by the courts, viewed bitcoin as a commodity like gold. ”
Winklevoss, known for the Facebook lawsuit, refers to 2015 when the Commodity Futures Trading Commission (CFTC) labeled bitcoin a commodity, or commodity, in a case with Derivabit, also known as Coinflip.
He also says that there are already a huge number of companies, such as his own crypto exchange, that are already regulated. Destroying this industry would be a huge blow to the economy and careers.
“So much should be undone. You’re talking about companies that provide careers and build the economy, some of which go public. They become drivers of the stock market. To reverse all that is so unlikely to me. It is of course not 0%, but it could just as well be. ”
According to Winklevoss, who is convinced that this also applies outside the United States:
“I think the same about the UK and Europe. In Singapore we are in a licensing process with the main regulator there. They embrace it. All the jurisdictions, which are free markets and open markets, believe in capitalism, believe in Bitcoin, believe in crypto, I think it’s seen as more of an opportunity than a threat there. ”