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The crypto industry is over a decade old now. Bitcoin [BTC] along with an array of assets managed to garner the attention of the entire globe. The crypto industry went from being closely related to the dark web to becoming a $2 trillion market. This journey was certainly impeccable and was lauded by many. While the involvement of governments was minimizing the essence of the industry, the co-founder of Apple, Steve Wozniak suggested that regulators would drive the market out if it went mainstream.
The crypto market gained fame following its unique aspects. The fact that the industry had nothing to do with centralized markets was a huge selling point. However, now, the industry was seen being extensively scrutinized by regulators across the globe. The Ripple vs. SEC case, the delay, and cancellation of Bitcoin ETFs in the US, China’s latest crypto takedown have been proof enough on how regulators were taking over the industry.
While the industry was just being recognized and making progress, Steve Wozniak suggested that this could soon end.
Crypto to be banned if it becomes too big?
Appearing in a recent interview, the co-founder of Apple expressed his views about the digital asset industry. While he spoke about an array of things, he clearly pointed out that the government wouldn’t allow cryptocurrencies to grow beyond the reach of centralized systems.
Noting that this could lead to the ban of these assets he stated,
“Trouble is that the government will never allow it to be out of their control. If it got to the point that everything was being done with crypto and it didn’t pass through governments for observation and taxation and all that…governments would just disallow it. They wouldn’t give up their power.”
Elon Musk and several others had previously suggested that China could have initiated its massive crypto takedown due to the industry’s level of decentralization.
Turns out, Wozniak wasn’t the only one who felt this way. Back in March, Ray Dalio, the founder of Bridgewater Associates noted that governments could ban Bitcoin as things could get out of hand.