Fight between crypto and governments “just getting started”, says ShapeShift CEO



Regardless of the unprecedented regulatory strain that crypto has been going through just lately in the US, the struggle between the American authorities and the crypto business has simply began, believes ShapeShift CEO Erik Voorhees. 

Based on the entrepreneur, U.S. authorities nonetheless don’t see crypto as an existential menace to the fiat system, and their latest crackdown is simply an opportunistic response to final yr’s blowups of fraudulent crypto corporations. 

“They see it as form of this scammy space the place they will are available in and appear like the hero for cleansing up a multitude,” Voorhees stated in an unique interview with Cointelegraph.

Based on Voorhees, crypto must develop into mainstream earlier than governments transfer towards it absolutely. At that time, “will probably 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 stream which can be current in conventional finance programs.

“Capital goes the place friction is least […]. Within the crypto world, capital strikes freely, it strikes effortlessly,” he identified.

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