Celsius CEO Alex Mashinsky evaluated Bitcoin and the regulatory stance towards the industry in a recent interview. Mashinsky, who describes himself as a Bitcoin maximalist,
We have passed the trillions of dollars market capitalization for cryptocurrencies, half of which is protected by Bitcoin. So obviously Bitcoin is doing something right.
said.
On the other hand, Mashinsky stated that he believes that a very large part of 12,000 projects will fail when considered in the context of altcoins, and stated that he supports only a few crypto projects together with Bitcoin.
In addition to these thoughts, Mashinsky added that when it comes to adoption, most people don’t know how to deal with very volatile assets like Bitcoin, adding, “They can’t find the right entry point…” he said.
SEC’s Attitude Towards Crypto Assets
Recently, rising concerns around the FUD and Omnicron variant in the industry have led Bitcoin investors to sell more than 10,000 BTC worth $575 million in just one day.
However, SEC chairman Gary Gensler also hinted in a recent statement that there is an impending pincer in the crypto industry.
“Without the necessary disclosures or market surveillance, many tokens can become unregistered securities.” and warned the industry. “If a lending platform offers securities, it also falls under SEC jurisdiction.” Referring to Gensler’s words, Mashinsky stated that Bitcoin and Ethereum are decentralized enough, and this situation keeps BTC and ETH away from discussions of being a “securities”.
Mashinsky also stated that there are still question marks about other assets, but he definitely thinks that everyone is safe with Bitcoin and Ethereum and is not worried about them being seen as securities.