Former White House Adviser Says Crypto Innovation Outside US is Big Risk
Carole House shared her opinion on the current crypto adoption in the world and indirectly said that the US government should bring a clear regulatory framework as soon as possible.
Carole House is the co-author of President Biden’s executive order on crypto, a highly controversial proposal in the US that dragged crypto miners & wallet developers under the crypto broker category. In the past, House also served as director of cybersecurity and secure digital innovation at the White House. At present, Carole is chairwoman of the Commodity Futures Trading Commission’s new Technology Advisory Committee.
Recently Carole House spoke with CoinDesk TV and shared her opinion on the increasing adoption of Cryptocurrencies & blockchain technology.
Carole said that innovation of any financial sector, including Crypto adoption, outside the United States (U.S), is a threat to the US national security.
“Driving any of the actors in cryptocurrency and other financial markets to have centers of gravity outside of the United States is also counter to U.S. national security objectives,” House told CoinDesk
Further, she added that the Crypto sector should be evolved under the proper regulatory guidance in the US.
According to Carole, crypto regulation should not only be able to prohibit bad actors but also ensure clarity on the regulatory path.
Carole believes, if the regulatory framework will remain clear in the US then it will help innovation of this innovative sector in the US more.
Crypto vs US regulation
In 2022, many crypto companies shifted their services outside the US citing an unclear regulation system in the country. The majority of the crypto leaders claimed that the US-based Securities regulatory body SEC is taking enforcement action against the successful crypto companies, without any prior notice or explanation of the rules.
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