Elon Musk: Between desire for deregulation and anti-crypto-bot policy

Elon Musk is certainly one of the most important forward-thinkers in the technology ecosystem. For him, this industry, vital to the American economy, is unduly subject to unsustainable regulatory pressure. While the latter is more dynamic than ever, the businessman hopes for the emergence of deregulation policies. At the same time, the boss of X wants to put an end to the proliferation of crypto-bots.

Elon Musk calls for deregulating the ecosystem around cryptos

Elon Musk has called for a vast policy of deregulation of the technological universe, this one obviously involving cryptos. The CEO of Tesla and SpaceX made the call after predicting that the SEC was sure to get a complete overhaul.

The billionaire comes in the wake of the major regulatory policy carried out by the American financial regulator, particularly in terms of cryptos. A plan which, in recent months, has caused a lot of ink and saliva to flow.

Indeed, many voices, including legislators, regulators, businesses and individuals, have stepped up. This, in order to denounce what they consider to be the SEC’s desire to harm investments by making them less profitable in the long term.

At least that’s what Vladimir Tenev, CEO of Robinhood Markets, thinks about a new regulatory proposal. A measurement which particularly targets predictive data analysis (PDA) and artificial intelligence (AI), and which did not fail to provoke a reaction from Elon Musk. “Our civilization is slowly being suffocated by an endless stream of regulations”declared the boss of X (Twitter), himself engaged in a standoff with the SEC.

Elon Musk pleads for deregulation of the crypto ecosystem

Elon Musk wants to stop the proliferation of crypto-bots

Very involved in the crypto market, the boss of Tesla and SpaceX recently spoke about crypto-bots. These are automated computer programs designed to carry out specific tasks related to the crypto sector such as buying, selling or exchanging cryptos, among others.

While there are many benefits to using these crypto-bots, they are not as risk-free. Particularly because certain malicious actors can use them to carry out fraudulent activities, including scams.

To counter this phenomenon which is gaining ground, Elon Musk plans to charge 1 dollar to new users of X. But according to experts, this project could be insufficient to stop crypto-bots.

First, because previous attempts to charge users have not really prevented scams. But above all because there is a more effective solution. ” We think that Web 2.0 platforms should consider implementing proof of personality and decentralized identity (DID) methods to effectively address the bot problem”believes James Wo, founder and CEO of DFG.

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