Ethereum co-founder says US regulators will ultimately embrace crypto
Joe Lubin believes, as with prior technologies like the internet, rational thinking will win the day
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It’s a matter of time before the US embraces crypto, says Joseph Lubin.
Lubin, a co-founder of Ethereum and CEO of Consensys, struck a confident tone during a recent interview that rational decisions will be made amid ongoing disputes between US regulators like the US Securities and Exchange Commission and crypto companies.
Similar to previous tech advancements like the internet, practical thinking will ultimately guide the regulatory approach to the industry, Lubin said on CNBC’s “Capital Connection” on Thursday.
“America will see that decentralized protocols, blockchain, cryptocurrency are aligned with the philosophies of the US,” he added. “And I think much of the rest of the world will follow suit.”
US crypto exchanges expect to face increased scrutiny after the SEC filed lawsuits against Coinbase and Binance in June, accusing them of violating securities regulations.
Elsewhere, Coinbase has initiated legal action against the SEC, urging the securities regulator to offer clearer regulatory guidelines for the crypto industry. The exchange maintains that the current regulatory framework in the US lacks clarity and practicality.
Lubin highlighted in the interview that the US regulatory approach influences many countries worldwide.
“The US has a lot of influence on the world through financial intermediaries and other intermediaries, and decentralized protocol technology is about right sizing and eliminating intermediaries in many ways,” he told CNBC, adding that the country is “all about free markets, capitalism, free speech.”
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