Bill Ackman said what on the Need for Crypto Regulation and Industry Self-Policing  

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The cryptocurrency sector must self-regulate, according to billionaire Bill Ackman,

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or it runs the risk of being shut down. He also said that it will probably take years for authorities to

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catch up since they need more funding to monitor the negative actors in the cryptocurrency field.

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In a series of tweets on Saturday, Bill Ackman discussed his opinions on many crypto-related subjects, including crypto regulation.

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Ackman is the CEO and portfolio manager of Pershing Square Capital Management, a U.S. Securities and

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Exchange Commission-registered investment adviser (SEC). His estimated net worth right now is $3.5 billion.

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Regarding cryptocurrency regulation, billionaire Bill Ackman said: “I am not sure we need new rules.

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Much of the fraud that is taking place is old-fashioned pump and dump schemes,

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and failures of custodians to protect customer assets. I suspect that existing anti-fraud and

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other laws already govern these violations. We just need more enforcement. ”

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