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© Reuters
Investing.com – Billionaire investor and Warren Buffet associate Charlie Munger is undoubtedly one of the most outspoken critics of cryptocurrencies, and he once again expressed his aversion to cryptocurrency and other digital assets earlier this year. week.
Munger, who is a vice chairman of Berkshire Hathaway, again called cryptocurrencies “worthless” at the annual meeting of shareholders of the Daily Journal Corporation, a publishing company where he is a director, which took place on Wednesday.
“Sometimes I call crypto ‘crappo’, sometimes I call it ‘crypto s—‘. It’s just ridiculous that anyone can buy this stuff,” Munger told CNBC during an interview. live from the event.
Munger added that “it’s a completely crazy, stupid gambling game.”
The investors went further, and cut short any debate by stating:
“I think the people who oppose my position are idiots, so I don’t think there’s a rational argument against my position.”
He also lamented the fact that his country, the United States, “authorized this shit”.
Regulators’ offensive on the cryptocurrency industry
In this regard, it should be noted that recent crypto news has been marked by several offensives by regulators towards the digital asset industry. Indeed, strengthening the regulation of cryptocurrencies is one of the priorities of the SEC, the financial regulator of the USA, as highlighted in the agency’s “2023 Examination Priorities Report”.
In particular, the SEC intends to review “the offer, sale, recommendation or advice with respect to trading in crypto or crypto-related assets,” the report states.
This desire to better regulate cryptocurrencies was recently illustrated by the SEC lawsuit against Paxos, the issuer of Binance’s stablecoin, or by the cessation of crypto staking activities by Kraken in the USA (and the payment of a fine of $30 million) following an “agreement” with the SEC.
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