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As the cryptocurrency industry has experienced rapid acceleration, regulatory bodies have started to pay more attention to the industry. Governements are now taking note of money laundering, terrorism financing and other criminal activities that can be linked with cryptocurrencies. An example of this is in Canada where amendments to the ‘Proceeds of Crime and Terrorist Financing Act’ now require businesses dealing with virtual currencies to register with the Federal Financial Intelligence Unit. Cryptocurrency regulations is another factor that can affect the price of Bitcoin.

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Snowden did express admiration for Harvard lecturer Bruce Schneier, one of the lead signatories of the letter, for his work on cryptography. However, he described many of Schneier’s co-signatories as "prolific public trolls."

In addition to detailed understanding of the Bitcoin protocol (Blockchain) and its future applications, we have gained a lot of experience on regulation, fraud detection and business as Bitcoin company.

"The letter is an argument for the status quo," Snowden said. "There are so many ways to address all of their concerns. They certainly should." All the people who have signed this letter could understand this industry.

Snowden also defended the crypto industry in the face of recent criticism by a group of tech experts who criticized cryptocurrency and blockchain technology to counter lobbying efforts by the industry at the start of this month.

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However, the uncertainties of its future can make the price fluctuate daily. Although there are certain factors that may have a negative impact on the value of Bitcoin, it is likely that in the long term it will transform into a safe asset due to its rarity. After spending a year and a half in the bear market, the price of Bitcoin has recently increased and crypto the bull run is in full force.

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"Think of it like a car driving down the highway," Snowden said. "You can’t see who the passengers are, but you can still see where the van left from, where it ended up, how long it took—that type of thing," he said.

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