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Apple co-founder Steve Wozniak recently stated his views about crypto in a recent discussion with the Insider, which was made public last week.
He explained that there are a plethora of cryptos on the market right now. Everyone can make a new one, and you have famous people to help you. It appears that they are just gathering funds from those who wanted to trade at the earliest possible moment when the investment is worth pennies.
He also explained that most investors ventured into crypto because they lacked knowledge. “Then they just fold,” He stated.
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According to the report, although he like the metaverse, he is less excited regarding non-fungible tokens (NFTs) and virtual currencies. He described them as "so up in the air" for the most part, emphasizing that they had a history of becoming "rip-offs."
Wozniak has direct personal experience with cryptocurrency frauds. He filed a lawsuit against Youtube and Google in July 2020 for exploiting his reputation and appearance to advertise bitcoin giveaway frauds. Last year, a court found that "Youtube and its parent company, Google LLC, are shielded by the federal legislation that exempts online media from liability for user-generated content."
In regards to bitcoin, the Apple co-founder stated that it is:
“[It's] the only one that's pure gold mathematics.”
This would not be Wozniak's first occasion of applauding the first virtual currency. He called Bitcoin a "mathematical miracle" in July of last year. He stated that "mathematical purity" is the biggest cryptocurrency in October.
The Financial Sector Conduct Authority (FSCA), a South African financial system body, has been pursuing international crypto platforms trading in the nation because they "provide a derivative products using cryptocurrency as the basis or benchmark commodity," according to an FSCA official.
As published by Bitcoin.com News, the South African authority has already rolled out public notices regarding major cryptocurrency trading firms such as FTX, Binance, and Bybit. Several crypto platforms working in the nation have been compelled to shut down services due to the agency's notifications.
There are speculations that the agency is targeting these firms because they trade virtual currencies. However, the body stated that the main reason behind its action is to ensure the proper protection of the country's citizens.
However, contrary to the speculations, Brandon Topham, the head of the agency, explained that the body is targeting the firms because they are not authorized to sell derivatives in the nation.
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The FSCA is striving to build a regulatory framework that will safeguard coin owners, according to the official.
"We're aiming to create a regulatory framework in which they may register in order to safeguard clients and legal participants from being exploited." "This is presently in progress," the FSCA spokesman stated.
South Africa, the source asserted, "would be one of the most advanced nations on the planet at this time," provided the desired regulatory structure is in existence.
