Famous venture capital investor Tim Draper criticized the changes in the crypto world and Bitcoin 
$63,272He emphasized that it is “permanent”. Draper argued that the SEC is clinging to outdated regulations, which is hindering crypto innovation. He stated that if the USA does not embrace the evolution in the financial field, it risks losing its technological leadership.
SEC and Crypto Innovation
Draper stated that the SEC’s regulations undermine American entrepreneurs. He said this situation created a “dark cloud” and led to new technologies being smuggled abroad. He added that the SEC adheres to 80-year-old laws and must align with the world.
“The SEC is living in the past. “They have 80-year-old laws that they’re strictly bound by, and it’s time for that to change.” –Tim Draper
Draper stated that Bitcoin could challenge the fiat money supply and that due to rising inflation rates, more people will start using Bitcoin for their daily shopping. He also touched upon the importance of protecting one’s own assets in crypto investments and emphasized that one should not rely on ETFs.
“Bitcoin is our savior… Ultimately, we will all turn to Bitcoin.” –Tim Draper
US Elections and Crypto
Draper said that the United States presidential candidates’ support for crypto will contribute to the growth of cryptocurrencies. Stating that a balance must be established between innovation and regulation, Draper stated that the USA can maintain its technological leadership if the legislatures accept crypto.
Tim Draper stated that he invested in companies that develop crypto infrastructure such as Arkham and that such projects were successful. Additionally, noting the diversity in its portfolio, Tezos 
$0.679516He mentioned early investments such as , Bancor and Handshake.
Draper said smart contracts are one of the greatest inventions that will make business deals transparent and automated. While talking about the regulations and political environment, he emphasized that many of his initiatives were developed abroad due to the uncertainties in the United States.
Finally, he stated that Draper sees Bitcoin as superior to traditional currencies and that it is a tool for storing value and cross-border transactions. Draper stated that he is hopeful for the future with his investments and vision in the crypto world.
Crypto market developments and the regulatory environment continue to present significant opportunities and challenges for investors. Opinions from leading investors like Tim Draper can be helpful in understanding the dynamics in the industry.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
