The millionaire co-founder of Carlyle, David Rubenstein, claims to have personally invested in bitcoin companies and does not foresee Congress overly regulating the industry. Rubenstein remarked on CNBC’s Squawk Box on Thursday that he is still hopeful about the future of the companies even though the market because younger generations are working hard to develop and encourage new ideas.
In 2022, the cryptocurrency market began to decline as investors worried about the effects of the Fed’s aggressive monetary tightening policy. As a result, Bitcoin and other cryptocurrencies have substantially decreased from their all-time highs. The majority of digital assets are currently losing money as a result of the market’s ongoing selling pressure.
The multi-billionaire investor said that in addition to being interested in tokens, he is also interested in companies that operate in the sector.
“Some of the blockchain-related investments and things associated with cryptocurrency are going to stay with us for some time,” concluded Rubenstein.
The co-founder of the $376 billion AuM global investment firm Carlyle Group praised Sam Bankman-Fried, the creator of FTX, for acting to promote the cryptocurrency sector and for bringing liquidity to suffering businesses.
Given the existing concerns that regulators could hinder innovation and restrict the market, Rubenstein also expects that Congress will fairly regulate the area. This occurs when more countries around the world work to foster an environment where cryptocurrencies can thrive.
Japan to Revitalize the Economy
Japan’s finance regulator proposed easing corporate tax restrictions for crypto assets as well as lower charges for individual stock investors in support of Prime Minister Fumio Kishida’s measures to revitalize the economy.
In its yearly request for a modification to the tax legislation, the regulator stated that businesses shouldn’t be compelled to pay taxes on paper earnings on cryptocurrency they hold after issuing them. The request was made public on Wednesday. The Financial Services Agency also demanded that a plan that offers tax advantages to private investors be reinforced.