Cryptocurrency should remain unfettered according to Ethereum co-founder, Joseph Lubin.
Ethereum Co-Founder Joseph Lubin recently shared, with Bloomberg, what could be conceived as a controversial commentary. Lubin said he believes that the cryptocurrency market in Paris’ Viva Tech should embrace regulation, but without compromising innovation.
Lubin, head of ConsenSys, declared he welcomes regulators into the cryptocurrency space both in the United States and other parts of the world. He also communicated some relief to the market, as the leading cryptocurrencies are raising once again.
“It is really valuable to have regulators in this space taking a look at some of the complicated practices in much less regulated situations. So, whether it’s with respect to cryptocurrencies, and cryptocurrencies — in my opinion — should remain unfettered because they have tremendous use cases, or whether it’s tokens representing securities or other assets, and how that maps into securities law, we’re very happy to see the regulators,”
Lubin’s declarations could generate some degree of acceptance regarding regulation, especially in American crypto-communities. Since regulation hasn’t been as hostile in the west as some eastern counties like China, and they haven’t closed the doors to innovation. There could be a hint of a healthy “regulators – industry” relationship in the future of western markets.
“We’re focused on getting very clear definitions and helping regulators around the world understand that there are these network business models that benefit from membership tokens or tokens that represent consumption of scarce resources. And as long as these projects are selling tokens to token buyers that make use of the token and they’re not selling in large quantities to speculators or hoping to make money by the actions of others, that is a good clean definition of a consumer token,”
said Lubin, who added that is “absolutely what Ether is” and described it as a “crypto fuel.”
by Samuel Larreal