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Summers Says Crypto Should Welcome Regulation for Its Own Good

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Summers Says Crypto Needs Government Regulation to Be Viable

Crypto enthusiasts would do well to embrace government regulation of the industry, according to former U.S. Treasury Secretary Lawrence Summers.

Given the large financial sums involved in crypto, it’s unrealistic for the industry to expect to operate in secrecy without government oversight, Summers said in an interview on Bloomberg TV. He made a comparison to the airline and automobile sectors, which wouldn’t be viable without being regulated.