Ethereum co-founder says US regulators will ultimately embrace crypto

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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