9/29, 1:00 AM (Source: TeleTrader)
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Musk: It appears China is against crypto

Tesla founder and CEO Elon Musk said that the Chinese government appears to be against the use of cryptocurrency.

Speaking at the 2021 Code Conference in Beverly Hills, California, Musk noted that the digital currencies are fundamentally aimed at reducing the power of centralized governments, which seems to be the reason for Beijing's disapproval.

"I can't speak to exactly why," said Musk. "Part of it might be to do with electricity shortages," he speculated. The billionaire went on to say that it is "impossible to destroy crypto," but that the governments across the globe can "slow it down."

Breaking the News / NL