Billionaire Carlyle Co-Founder David Rubenstein Reveals Crypto Investing
David Rubenstein is interested in crypto and does not expect overregulation
David Rubensteinbillionaire co-founder of Carlyle, says he has personally invested in cryptocurrency businesses and doesn’t expect excessive regulation of the sector from Congress.
Although the market has been “beaten down dramatically,” Rubenstein said on CNBC’s Squawk Box Thursday that he remains optimistic about the future of the industry since younger generations are working hard to create and promote new ideas.
The cryptocurrency market turned bearish in 2022 as investors feared the outcome of the Fed’s aggressive monetary tightening. As a result, compared to their all-time highs, Bitcoin and altcoins have fallen drastically. Most digital assets are currently suffering losses as the market continues to be under constant selling pressure.
According to the multibillionaire investor, he is not only interested in tokens, but also in businesses operating in the field. Rubenstein added that “some of the blockchain-related investments and things related to crypto will probably be with us for some time.”
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The co-founder of the Carlyle Group, a global investment firm with $376 billion AuM, also praised FTX founder Sam Bankman-Fried for stepping in to support the cryptocurrency industry and for taking steps to inject liquidity into struggling companies.
Rubenstein also expects Congress to regulate the space fairly given existing fears that regulators could stifle innovation and limit the market. This comes as several nations around the world continue to create an environment conducive for cryptocurrencies to flourish. Japan announced tax benefits for cryptocurrency and its investors, according to U.Today.
Japan announces tax breaks for crypto and its investors
In support of Prime Minister Fumio Kishida’s initiatives to revive the economy, Japan’s finance authority proposed easing corporate tax regulations for crypto assets, as well as lighter taxes for individual equity investors.
Companies should not be required to pay tax on paper profits on cryptocurrencies they hold after issuing them, the regulator suggested in its annual request for an overhaul of the tax code, published on Wednesday. A scheme that gives tax benefits to individual investors was also called for to be strengthened by the Financial Services Agency.
