Michael Saylor: The Regulation of the Crypto Industry is Necessary for its Development
Main page Opinion, Regulations, Cryptocurrency
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Feb. 6, 2023

Michael Saylor, former CEO of MicroStrategy, has said that stricter regulation of the digital asset industry is a necessary element for its growth, CNBC has reported.

He has explained:

"What [the industry] needs is adult supervision. It needs the Goldman Sachs’ and the Morgan Stanley's and the BlackRock’s to come into the industry. It needs clear guidelines from Congress. It needs clear rules of the road from the SEC."

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According to Saylor, the bankruptcies of large crypto projects and companies are "painful" for investors in the short term, but beneficial for the development of the sector in the long term.

The former MicroStrategy CEO has also responded to Bitcoin criticism from Berkshire Hathaway vice chairman Charles Munger, who on February 1 said the US should follow China's lead and ban cryptocurrencies.

Saylor has pointed out that if Munger spent 100 hours studying Bitcoin, he would be more bullish on the asset than he is now.

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