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US Billionaire Says Crypto Unlikely To Face “Major Regulation” From Congress

By  |  May 2, 2022

Cryptocurrencies like Bitcoin have become increasingly popular, particularly among a younger generation, but are unlikely to face major regulation from Congress, billionaire investor David Rubenstein told Fox News Digital.

A 2013 New York Times article said Bitcoin “isn’t ready for popular consumption, and it may never be,” calling it a “high-risk experiment.”

Even a 2018 Vox article called the cryptocurrency the “greatest scam in history.”

Yet according to Pew Research, 16% of Americans say they have traded, invested in or otherwise used a cryptocurrency, and nearly 90% say they have heard at least a little about cryptocurrency.

While 16% is still much lower than the 56% of Americans who own stock, according to a 2021 Gallup survey, it is a drastic increase from the 1% who said they had collected, traded or used Bitcoin in 2015.

Rubenstein said the popularization of cryptocurrencies is not unlike that of other new and emerging technologies.

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