The crypto revolution can’t wait – This is the speech given by Larry FinkIe CEO of BlackRock, the asset management giant. He expressed his concerns about the US delay in the development, adoption and regulation of bitcoin and its peers, already adopted by the company. Worse. According to Fink, the USA currently losing ground compared to other countries that have a long-term commitment to the crypto sector.
Once upon a time there were cryptocurrencies in America
In his annual letter to investors, presenting what he considers to be the most urgent and quickest areas to work on, Larry Fink explains:
“I am very concerned about the lack of efforts in the United States to develop cryptocurrencies, unlike what can be seen in China, Europe and other parts of the world. We need clear and consistent regulations to encourage the development of this technology.”
Geopolitical crisis, war in Ukraine and macroeconomic context and the need for sustainable development for the future: after an inventory of the year 2022, the CEO of BlackRock tackles traditional finance, flayed by an unprecedented banking crisis .
In detail, Fink points out that the main challenge facing the United States is the regulation. However, while in some countries regulators are working with the crypto industry – sometimes criticized – in order to consider new frameworks, the CEO of BlackRock deplores for his part a regulation which attacks the cryptographic industry from all sides.
>> To diversify your savings, get exposure to cryptos on PrimeXBT (commercial link) <<
Bitcoin and cryptocurrencies: a revolution not to be missed
Nevertheless caught in the FTX turmoil, the CEO of BlackRock added that the United States must take quick action to not be left behind. Repression is not the appropriate solution to allow a fulfilling framework for innovation.
“It is important that we take quick action to adopt this technology before it becomes obsolete. We need to see significant changes in regulation to encourage innovation in this area. »
Thus, faced with the importance and evidence of the blockchain which completely revamps our way of carrying out exchanges and transactions, and faced with the various commercial opportunities that web 3 already allows, Larry Fink confirms:
“The United States must take steps to be at the forefront of this revolution. »
Thus, faced with the spectacular advances of Bitcoin and cryptocurrencies in Africa, India, Brazil and otherother emerging countriesdeveloped countries continue to fall behind, forgetting that if Bitcoin is a problem for them, it represents a solution for others elsewhere in the world.
Developing regulations certainly, however it is not for the CEO of BlackRock to turn his back on cryptocurrencies, quite the contrary. He even sees the future in tokenizationbut also in the metaverse.
No offense to regulators, there are still platforms that preserve your privacy. Register now on PrimeXBT, the exchange without KYC (commercial link).