Anti Crypto Politics Damages The US, Billionaire Tim Draper Says

It’s just been reported the fact that anti-crypto politics is damaging the US. Check out the latest reports about this below.

According to the latest reports, it has been revealed the fact that the billionaire Tim Draper says the Chair of the U.S. Securities and Exchange Commission (SEC) is damaging the US with policies that stifle crypto innovation.

In a new interview with Fox Business’s The Claman Countdown, Tim Draper says the SEC and Gary Gensler should have no oversight on crypto technology.

“[The SEC] has no relevance to crypto. It needs to be regulated in a new way. What’s America going to look like in 40 years? It’s going to be a total wasteland. There’s going to be no technology.”

Draper continued and said the following:

“Crypto is coming. AI is coming. What is this new fear about spreading technologies? They’re great for us. We’ve got smartphones. We’ve got Teslas. We’ve got all these amazing new technologies.”

Draper who is an early Bitcoin (BTC) investor, made sure to explain the fact that there aren’t any crypto firms who expect zero regulation. He also said that most of them are happy to abide by clear guidelines.

He also said the fact that the US regulatory climate is confusing and discouraging the crypto industry from innovating.

“If there was a fraud [in FTX], and I think there probably was, then you have a job to go do. But you don’t just start shooting randomly at any company with new technology. That makes absolutely no sense.”

In other recent news, a new survey from an American think tank shows an overwhelming majority of US adults are against the adoption of a central bank digital currency (CBDC). You probably know by now that this would allow the government to track and control their financial activities.

As the online pubcalition the Daily Hodl notes, the Cato Institute, in collaboration with market research firm YouGov, collected responses from 2,126 US adults between February 27th to March 8th of this year to check the country’s sentiment on the potential pros and cons of a CBDC.