srcChina will defeat the united states in the race to adopt cryptocurrencies coinbase co-founder declares china which has long dominated other countries in terms of bitcoin mining power and acceptance but has recently cracked
down hard on bitcoin miners is now being promoted as the country that will likely surpass the united states in terms of bitcoin adoption
in an interview with bloomberg fred airson ceo and co-founder of the biggest cryptocurrency exchange platform coinbase stated that china might defeat the united states in the
race for bitcoin adoption he made these remarks in light of the sec's recent reluctance to regulate cryptocurrency or approve any cryptocurrency exchange traded fund etf despite increased
public interest and optimism that the organization's newly appointed chair gary gensler would be more amenable to the proposals regardless of the regulatory uncertainty crypto fans remain confident that a bitcoin
etf will be launched in the united states airsome has suggested that the securities and exchange commission in the united states of america may get cryptocurrency legislation wrong he argued that the u.s has long been
the default financial regulator for the world owing to the fact that the us dollar is the reserve currency of the majority of countries and that some of the world's most valuable corporations are internet technology
companies headquartered in the united states the sec's approach to bitcoin regulation the executive notes could have significant global implications for cryptocurrencies in contrast to the us china has been extremely
welcoming to bitcoin and crypto currencies until just recently according to prior years data china accounted for between 65 to 75 of bitcoin mining despite the country's recent crackdown on the industry due to energy
and environmental concerns additionally airsome added that bitcoin is the next great thing on par with the internet and has the ability to create as many employment if not more than the internet did [Music] while dismissing
regulators concerns about cryptos he stated that there is a good chance that the us and other countries can close the gap with china following china's recent crackdown on bitcoin miners in order to prevent cryptocurrencies like
bitcoin from becoming controlled by a single nation state asm also mentioned internet privacy as a benefit of cryptocurrencies and blockchain with long-standing worries about how large technology corporations handle
user data blockchain technology presents an unprecedented chance for users to recover ownership of their data additionally he stated that
blockchain technology will enable us to retain ownership of our data while gaining access to all of the internet's benefits.