Speaking to Yahoo Finance on Wednesday, Munger also directed his ire toward the U.S. government for its failure to ban cryptocurrency.In contrast, Munger praised China for a cryptocurrency ban the country instituted in September.The outlook for U.S. regulation of cryptocurrency remains unclear, though top federal officials have indicated a desire to strengthen oversight.
for stablecoins, a form of cryptocurrency that pegs its value to a commodity or currency, like the U.S. dollar.Berkshire Hathaway Vice-Chairman Charlie Munger speaks during an interview with Liz Claman on the Fox Business Network in Omaha, Neb., Monday, May 5, 2014. The annual Berkshire Hathaway shareholders meeting concluded over the weekend. Munger voiced skepticism about the government's appetite for robust regulation of cryptocurrency.
"The truth of the matter is our regulatory establishment — when they quit government, they go out into this heavy promotional capitalism," he says. "So it is very hard to get the government to make good, wise decisions about something like bitcoin."
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