OpenAI CEO and Worldcoin founder Sam Altman criticized escalating US government attempts to control crypto as tantamount to waging “war” on the industry.
In a recent podcast with Joe Rogan, Altman voiced disappointment in the regulatory crackdown following FTX’s collapse. But he argued that existing oversight failed to prevent issues while stifling innovation.
Altman said, “There are many things that I’m disappointed that the U.S. government has done recently, but the war on crypto — which I think is a like, we can’t give this up, like we’re going to control this and all that.”
Altman conceded that there is a clear role for crypto regulation. However, he believes tightening restrictions in response to scandals wrongly penalizes the entire space.
Sam Altman’s comments come amidst a rise in scrutiny
His comments come as authorities ramp up efforts to tame crypto with measures like sanctioning exchange operators. Altman also highlighted Bitcoin’s potential as a universal currency with its capped supply and decentralization. He joins others alarmed by curbing crypto, which threatens its promise.
However, regulators face pressure to act after crashes like FTX expose risks. The challenge is protecting consumers without destroying crypto’s open ethos. Altman did not completely dismiss regulation. But he warned of the dangers of onerous policies enacted out of haste and fear rather than a measured approach.
His remarks reflect common industry concerns about blunt government actions strangling crypto innovation and ideals. The fierce pushback shows the gulf between crypto purists and wary authorities.