Michael Saylor: I think regulators have concluded that most toke
On May 24th, Michael Saylor, co-founder and executive chairman of MicroStrategy, said in an interview with Kitco NEWS that regulators are opposed to the existence of stablecoins because this digital currency circulates billions of dollars in dark pools. Thereby circumventing the supervision and sanctions of the banking system. Michael Saylor believes that regulators have concluded that most encrypted tokens are unregistered securities, manipulated by issuers, and have not provided proper disclosure information about these assets. Additionally, the collapse of the FTX trading platform became a catalyst that prompted regulators to argue that cryptocurrency exchanges, cryptocurrency securities, and stablecoins are not truly compatible with a stable global financial system. But Saylor believes bitcoin will benefit once regulators crack down on the cryptocurrency industry.
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