Michael Saylor and Cathie Wood Assess Bitcoin Regulation Risks

US authorities have shifted their stance on cryptocurrencies, and forthcoming regulatory steps do not raise concerns. At the Bitcoin 2022 conference, MicroStrategy CEO Michael Saylor and Ark Invest CEO Cathie Wood said this, The Block reports.

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Both speakers conceded that the chair of the SEC Gary Gensler could have briefed US Treasury Secretary Janet Yellen on the importance of preserving innovation and cryptocurrencies.

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“I don’t think there is any outcome unfavourable to Bitcoin,” said Saylor.

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Wood, in her view, said that the political attitude toward digital gold has shifted sharply, especially since Joe Biden took office as US president. She also contrasted them with Yellen’s statements.

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Initially, the head of the Treasury spoke of cryptocurrency as a tool for money laundering and called Bitcoin a speculative asset. In late March 2022, Yellenstated the importance of digital assets in Americans’ investment decisions.

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On March 9, Biden signed an executive order coordinating federal agencies in regulating cryptocurrencies. Before that, the presidentapproved a law funding infrastructure spending.

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At the end of March, Senators Cynthia Lummis and Kirsten Gillibrand disclosed details of a bill designed to provide clarity on cryptocurrency regulation. Among other things, the document clarifies the definition of broker in the infrastructure package and provides for the creation of a dedicated supervisory agency.

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Earlier, the White House forecasted additional receipts of $11 billion from cryptocurrency taxes.

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