Currency

Coinbase board member expects no regulation around cryptocurrencies for years

Image credit Recode/Asa Mathat

Kathryn Haun, board member at Coinbase and HackerOne thinks that we won’t see regulation around cryptocurrencies and the blockchain for years.

TechCrunch reports that Kathryn Haun made the announcement at a panel of leaders in blockchain technology in scope of Code Conference in California.

“There are parallels between the early days of the internet and blockchain… In the early days of the internet, for example, people called for a single regulator. That didn’t happen, but now we’re seeing that happen with cryptocurrencies and blockchain… We don’t want regulation to outpace understanding… For example, if regulation were to have come out a year ago, it would already be outdated thanks to the rise of ICOs,” she said.

Kathryn Haun, who is also a professor at the Stanford Graduate School of Business, suggested to wait and see how the technology develops.

Another panelist, Brad Garlinghouse, the CEO of Ripple called Cryptocurrencies vs. government-backed currencies holy wars.

“There are groups of people who are grounded in the ideology and passionate zealotry that [say], ‘We’re going to overthrow governments. We’re sick of being held down by the man and we’re going to circumvent all these regulations and unlock crazy new things.’”

Let us remind that it was in March during a Congressional hearing when Mike Lempres, Chief Legal and Risk Officer at Coinbase, announced that US regulatory system is “harming healthy innovation.”

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