BlockFi CEO Zac Prince
agrees with United States Senator Elizabeth Warren that there is a lot
of noise in the crypto industry. Still, he expects that the clarity that
comes with regulations will positively impact the ecosystem. 

Describing regulators’ interest in crypto as a natural evolution of the technology, Prince said that discussions like Wednesday’s Senate Banking Committee hearings are very positive trends overall for the crypto sector.

It’s
easy to miss the forest for al the trees, he said, highlighting that
crypto is an asset class that has generated substantial wealth for
millions of people. “It’s been the best performing asset class in seven
out of the last ten years,” he said.

The crypto industry is
creating lots of new jobs across the board, Prince noted, stating, “This
is something that we want to continue to happen in America.”

Related: BlockFi is reportedly seeking to close new funding at a valuation of $5 billion

Asked
about his opinion on the impending regulations on cryptocurrencies, he
said that he expects the rules to be favorable for the business:

“Regulatory
clarity enables companies like BlockFi to continue innovating. It
enables consumers and investors to participate in this sector with the
utmost confidence.”

This week, the Senate Banking Committee discussed a U.S. government-backed central bank digital currency in a session where Senator Warren took a generally critical stance against crypto.

Calling crypto a “fourth-rate alternative to real currency” and a “lousy investment,” she then went on to call Dogecoin (DOGE) a “bogus” currency. Warren said that the volatility of cryptocurrencies makes them unsuitable as a medium of exchange. 

source link: https://cointelegraph.com/news/regulator-interest-is-good-for-the-crypto-ecosystem-says-blockfi-ceo