Despite the unprecedented regulatory pressure that crypto has been facing recently in the United States, the fight between the American government and the crypto industry has just started, believes ShapeShift CEO Erik Voorhees. 

According to the entrepreneur, U.S. authorities still don’t see crypto as an existential threat to the fiat system, and their recent crackdown is just an opportunistic reaction to last year's blowups of fraudulent crypto companies. 

“They see it as sort of this scammy area where they can come in and look like the hero for cleaning up a mess,” Voorhees said.