Carole House, the former director of cybersecurity and secure digital innovation for the WhiteHouse, discusses why President Biden’s executive order on crypto is balanced but regulatory gaps remain. _franvela reports
is focused on consumer protection, including financial inclusion and stability risks, as well as crypto’s illicit use cases, responsible innovation and maintaining a position of leadership in the global economy.
House, now an executive-in-residence at venture capital firm Terranet Ventures, said the executive order “was properly balanced” and it focused on mitigating risks while still adhering to the potential innovation behind blockchain technology. The administration “has an opportunity to take a position,” according to House, with the ultimate goal of helping to influence legislation on which agency should be responsible for regulating the crypto spot market.
The result could spread beyond U.S. borders by setting standards for crypto, which could in turn prompt other countries to follow suit, according to House. “The United States is really the key country that’s bringing enforcement actions,” she said.
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