Katie Haun, a general partner of Andreessen Horowitz, said that the crypto industry is not against regulation. However, the industry requires more clarity from crypto regulators.
Haun mentioned that it is not as if the crypto industry is opposing regulation. However, it does not want to get a “monolith” like treatment. Haun said so while interacting with Kate Ronney of CNBC in a summit that the business TV network hosted recently.
A16z collected a whopping 2.2 billion USD in June this year to introduce its 3rd crypto fund. It also happens to be the largest crypto fund to date. Haun used to be a federal prosecutor and created the first digital currency task force of the U.S. Government.
She also added that regulators should realize that one size cannot fit all and the crypto sector is beyond simply financial use cases. The American SEC has been regulating a major portion of the industry.
However, Haun mentioned that she does not think the larger portions of the crypto industry fall within the jurisdiction of the SEC. However, she feels that these might be within the jurisdiction of other regulatory bodies.
Haun is on the Coinbase board and stated that the organization filed to go public and was still subject to the criticism of the SEC. Coinbase recently canceled plans to introduce a crypto lending product when the SEC warned to sue.
Gensler noted in recent weeks that a majority of crypto trading platforms have to register with the Security Exchange Commission. They nicknamed stablecoins as “poker chips.” The firm also reiterated its support for a group of ETFs recently.