Sunday, November 27, 2022
HomeBTCCarlyle co-founder shares his expectation from US government on crypto regulation

Carlyle co-founder shares his expectation from US government on crypto regulation

On September 1, the Billionaire co-founder of Carlyle, David Rubenstein revealed in CNBC’s Squawk Box that he had personally invested in crypto businesses and doesn’t expect the congress government to regulate the sector heavily.

In CNBC’s Squawk Box interview, Rubenstein said although the market has been beaten down drastically, he is hopeful about the fate of the business since younger generations are endeavouring to make and foster new ideas.

Crypto investors’ fear over the Fed’s aggressive quantitative easing stance resulted in the bearish cryptocurrency market in 2022. As a result, Bitcoin and major altcoins have drastically fallen as compared to their ATH (all-time highs).

Due to continuous selling in the market, most digital currencies are going through heavy losses.

As per the billionaire investor, he isn’t just keen on crypto tokens or coins but also on the firms working in the sector. Rubenstein said, “some of the things related to crypto and blockchain-related investments are most likely to stay with us for some time.”

The co-founder of Carlyle Group, a worldwide investment company with an AuM of $376 billion, also complimented FTX CEO Sam Bankman-Fried for helping the digital currency sector and for making a move to infuse liquidity into struggling organisations.

Additionally, Rubenstein anticipates that Congress should have a fair approach while regulating space, given existing fears that controllers could choke innovation and shrink the industry.

This comes as more countries worldwide keep on establishing a favourable environment for digital currencies to prosper.

On the other hand, Japan announced some tax benefits for cryptocurrency and its investors.

To support the vision of Japan’s Prime Minister Fumio Kishida for revitalising the economy, Japan’s financial regulator will reduce the corporate tax rules for cryptocurrency as well as individual stock investors.

Moreover, the financial regulator suggested in its annual request that the firms should not need to pay taxes on cryptocurrency profits that they hold after issuing them. Apart from this, the Financial Service Agency also called for a scheme that needs to be strengthened to provide tax benefits to individual investors.

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