Key facts:
The Central Bank of China declared all bitcoin deals illegal on September 24th.
Haun’s equity firm has made investments in the field of cryptocurrencies.
China’s recent ban on transactions with bitcoin (BTC), again, could represent an opportunity for the United States in relation to the regulatory measures to be implemented against cryptocurrencies . So believes Katie Haun, who served as federal prosecutor in the North American nation.
In a talk given to CNBC , Haun expressed his opinion and pointed out that the ban on bitcoin in China should be considered as a «what Don’ts » regarding regulatory policies on cryptocurrencies . Haun assures that, while he was a prosecutor, he was asked to investigate the bitcoin industry.
According to the current main partner of the investment firm Andreessen Horowitz, the decisions of the Chinese government’s veto to bitcoin, would be aimed at promoting the cryptocurrency of the Chinese Central Bank, known as the digital yuan. He believes that China will seek to link all economic activities within the country to this new centralized cryptocurrency (or CBDC, short for “central bank digital currency”).
Regarding the development of a CBDC, whose career the United States is already in, as reported by reported CriptoNoticias, Haun comments that the North American country will still take 2 years to continue exploring options. The former prosecutor comments that the United States has taken a good approach .
The Bitcoin ecosystem is not against regulations, says Haun
Haun considers it a “myth” that the people of the Bitcoin ecosystem and cryptocurrencies, in general, strongly disagree with the regulations. She considers that, on the contrary, what they want is more regulatory clarity .
In this area, the former federal prosecutor says she is disappointed in the SEC (Securities and Exchange Commission of the United States) for what she considers persecution of companies in the field of bitcon and cryptocurrencies.
Among these companies is involved Coinbase, which, to early September, was threatened with being sued by the SEC, due to a new financial loan product launched by the exchange.
The CBDC’s political war and regulations
The CBDC’s political war and regulations
The United States and China are currently engaged in what can be considered a trade war, the battlefields of which are They have been displaced to different areas, including the cryptocurrency sector, and even its centralized variants such as CBDCs. In this case, United States senators asked athletes to did not use the digital yuan in the Beijing 2022 Winter Olympics.
The concern on the part of the United States is not directly about the CBDC but against China. According to an investigation reported by CriptoNoticias, more than 80% of Central Banks (including the one in the US) would be looking to use this type of assets.
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