Krypto has a lot more to offer than financial application cases, regulation cannot be a unit size - regulation
Krypto has a lot more to offer than financial application cases, regulation cannot be a unit size - regulation
The former federal prosecutor Katie Haun says that the supervisory authorities really have to make an inventory of the fact that we go beyond financial application of cryptocurrencies. "Crypto has a lot more to offer," she said, adding that "regulation cannot be a unit size". Haun continued that Krypto is not the wild west and The industry wants clarity, not missing regulation.
former federal prosecutor discusses crypto regulation and role of the Sec
Katie Haun spoke at the Delivering Alpha Conference from CNBC on Wednesday about cryptocurrency and its regulation.
Haun is a general partner of the venture capital company Andreessen Horowitz. Before that, she was a decade of a federal lawyer with a focus, cyber and corporate crime together with authorities such as the Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI) and the Ministry of Finance. She created the first task force for the government of cryptocurrencies and directed studies on the Mt. Gox-Hack and the corrupt agents of the Silk Road Task Force.
She explained that "there is still such a focus on the financial applications of the crypto ecosystem". Although she admitted that the supervisory authorities would consider crypto to be synonymous for financial applications, however, said:
The regulatory authorities really have to make an inventory of the fact that we go beyond financial applications. Crypto is much more than that ... regulation cannot be a unit size. We think that regulation plays a really important role.
In relation to whether the crypto room like the Wild West is, as suggested by the SEC chairman this week, the former federal prosecutor said: "There is this myth that the wild West exists and that no authorities have a regulation that has to do with crypto. And that is not the case."
She explained that the Ministry of Finance in 2013 published guidelines for cryptocurrencies and found that "many innovators and responsible actors and companies in this area have started to follow these guidelines, even though this was difficult to implement".
haun turned to another myth about crypto. She said, "many people" believe that "those in the crypto industry do not want regulation". She exposed the myth and confirmed:
This is actually a myth. It is not the case that industry does not want regulation. I always say it wants clarity. But it doesn't want to be treated as a monolith either.
Tesla boss Elon Musk, however, said on Wednesday that the governments " do ”about crypto instead of trying to regulate and control it.
haun emphasized the need for an "even application". She explained that those in the crypto industry, "who tried to make efforts in good faith that went out in terms of compliance with the regulations", "those who are really examined".
Meanwhile,companies and platforms that "have made themselves very difficult to follow regulations and laws" are "really a free ticket". She emphasized:
I think what we need is ... even application. I think that's really important and I hope that the SEC will do it. And that will be done under the leadership of Chairman Gensler.
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