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Former federal prosecutor Katie Haun says that regulators really need to take stock of the fact that we\u2019re beyond just financial use cases of cryptocurrency. \u201cThere\u2019s much more to crypto than that,\u201d she said, adding that \u201cRegulation cannot be one size fits all.\u201d Haun further said that crypto is not the Wild West and <\/strong>the industry wants clarity, not lack of regulation.<\/strong>\n<\/p>\n \n Haun is a general partner at venture capital firm Andreessen Horowitz. She previously 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 created the government\u2019s first cryptocurrency task force and led investigations into the Mt. Gox hack and the corrupt agents on the Silk Road task force.<\/p>\n She explained that there\u2019s \u201cstill such a focus on the financial applications of the crypto ecosystem.\u201d While acknowledging that \u201cit makes sense\u201d regulators would think of crypto as synonymous with financial use cases, she opined:\n<\/p>\n Regulators really need to take stock of the fact that we\u2019re beyond just financial use cases. There\u2019s much more to crypto than that \u2026 Regulation cannot be one size fits all. We think regulation plays a really important role.<\/p>\n<\/blockquote>\n \n She explained that the Treasury Department put out guidance on cryptocurrencies in 2013, noting that \u201ca lot of innovators and responsible actors and companies in the space started following that guidance, although it was difficult to implement.\u201d<\/p>\n Haun proceeded to address another myth about crypto. She said \u201ca lot of people\u201d believe that \u201cthose in the crypto industry don\u2019t want regulation.\u201d Debunking the myth, she affirmed:\n<\/p>\n That is, actually, I can say a myth. It\u2019s not that the industry does not want regulation. I always say it wants clarity. But it also does not want to be treated as a monolith.<\/p>\n<\/blockquote>\nFormer Federal Prosecutor Discusses Crypto Regulation and SEC\u2019s Role<\/h2>\n
\nKatie Haun talked about cryptocurrency and its regulation at CNBC\u2019s Delivering Alpha Conference Wednesday.<\/p>\n\n
\nRegarding whether the crypto space is like the Wild West, as suggested by SEC Chairman this week, the former federal prosecutor said: \u201cThere\u2019s this myth that there\u2019s the Wild West and that no agencies have any regulation that speaks to crypto. And that\u2019s not the case.\u201d<\/p>\n\n