Brett Harrison: prohibition is useless

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Elena Klimovich

11:58 27/05/2022

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Brett Harrison: prohibition is useless

The Head of FTX.US in his speech at the Global Economic Forum in Davos admitted that mining could be as good as bad power according to the ways of its use. Also he noticed that all countries which are thinking about mining prohibition should remind that miners will just relocate.

During the discussion with crypto investors, researches and other involved persons Harrison said that the idea to “delete” mining is unviable and can’t be used even for the reason to take care about carbon trace.

 FTX.US leader also explained that mining can be the force of goodness when it helps stabilize the renewable network. But when it becomes the reason for electricity prices rising it’s, of course, the power of evil. But in general he is sure that prohibition is a bad idea because all miners will move to other countries and work there. Harrison remonded the chinese experience when the whole country was fighted against the crypto field and what happened after that.

The worst thing in this example is that miners who relocated to Kazakhstan began to use coal for mining instead of finding the “green” way in China. Brett Harrison compared different points of view in the crypto field to political games and said that he prefers when the winner is chosen by market.

Head of FTX.US advised other companies to work together and bring clarity to the society about blockchain.


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