Katie Huan, a cryptocurrency investment manager at Andreessen Horowitz said that the U.S. should do the ‘exact opposite’ of <a href="https://www.cryptoknowmics.com/news/great-firewall-of-china-censors-crypto-websites-like-coingecko-coinmarketcap/">China</a> in considering the regulation of crypto industry. “This is an opportunity for the United States because we should be doing the exact opposite in my mind in this realm of what China is doing,” said Haun.
<h2 class="article__header__heading">Crypto Regulation Cannot Be One Size Fits All Says, Katie Huan</h2>
Appearing in an interview on Wednesday at <a href="https://www.cnbc.com/delivering-alpha/" target="_blank" rel="nofollow noopener">CNBC’s Delivering Alpha conference</a>, Katie Huan, a former federal prosecutor and the current general partner at Andreessen Horowitz said that the United States has taken the right approach on CBDCs.
<blockquote><em>“I’m glad we’re studying as a country CBDCs, but we’ve publicly said as a country that we’re going to keep studying it for a couple of years. I think it’s really important that policymakers and private industry in the U.S. work together.”</em></blockquote>
On whether the crypto industry is opposed to regulations, Huan clarifies that such is not the case but that the industry wants rules but doesn’t want to be treated as a monolith. For instance, she cited the example of non-fungible tokens saying NFTs shouldn’t be subjected to regulations as a financial product because regulations aren’t one-size-fits-all.
<h2><strong>Former Federal Prosecutor Disappointed into SEC</strong></h2>
Huan also expressed her disappointment that the SEC is harassing crypto <a href="https://www.cryptoknowmics.com/news/coinbase-abandons-its-plan-to-launch-a-lending-product-due-to-sec-pressure/">companies</a> like Coinbase that are trying to be compliant. Coinbase, which counts Haun as a board member, recently halted its plan to introduce a lending product after the company had received a Wells Notice from the SEC, which threatened to sue if Coinbase went through with its product launch.

Katie Huan has spent a decade as a federal prosecutor focusing on fraud, cyber, and corporate crime alongside agencies including the Securities and Exchange Commission (SEC), Federal Bureau of Investigation (FBI), and Treasury. She has been credited with creating the government’s first cryptocurrency task force and led investigations into the Mt. Gox hack and the Silk Road task force.

U.S. Should See China as a Cautionary Tale on Crypto Regulation: Katie Haun

Katie Huan, a general partner at a16z said that the U.S. should do the ‘exact opposite’ of China in considering the regulation of crypto industry.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

U.S. Should See China as a Cautionary Tale on Crypto Regulation: Katie Haun

Top Picks