Sheila Warren, the World Economic Forum’s head of blockchain and digital assets, has expressed her worries over “dramatic” attempts at regulating Bitcoin and other cryptocurrencies.
Warren shared her sentiments with Bloomberg on Thursday. According to her, regulators will not allow Bitcoin to win without a fight. She told the news agency:
We’re going to see another round of pretty dramatic attempts at regulating this space. As there’s more and more activity in these spaces there’s more and more demand signal for regulators to get engaged and involved.
Her concerns are not entirely new. Billionaire Ray Dalio has voiced similar sentiments for the past few months. Despite being a pro-Bitcoiner, Dalio firmly believes that governments would outlaw Bitcoin to retain their monopoly on money.
Warren asserts that the increased scrutiny from regulators is unavoidable. However, she thinks this will push Bitcoin to new highs.
Her comments came on the heels of the Coinbase share listing on Nasdaq. Combined with the number of endorsements Bitcoin has received from institutional investors, many industry players are hopeful that these wins will lend some legitimacy to the cryptocurrency sector. However, there is no clear-cut trajectory on what the future holds for the digital asset. While some countries such as Kenya are moving to embrace Bitcoin, others like India are tightening restrictions.