Kate Haun, a professor at the Stanford Graduate School of Business and board member at Coinbase and HackerOne asserted that Blockchain and digital currency would remain largely unregulated for some years to come.
Speaking on a panel at the 2018 Code Conference, Haun, was alongside Brad Garlinghouse, Ripple’s CEO, and Bridget van Kralingen, Senior Vice President of IBM.
Haun pointed out parallels between the Cryptocurrencies projects and the early internet days. In the early days of the internet, for instance, people called for a single regulatory body, which never happened. “But now we’re seeing that happen with cryptocurrencies and blockchain,” she said
Haun later argued that there cannot be any regulation in crypto ecosystem until the relevant regulators learn ABC’s of cryptocurrency and gain a solid understanding of how crypto works. She further stated that “It’s important to wait and see how the technology develops.”
Haun noted that regulation should not outpace understanding, and if regulation had been created a year ago, it would quickly become outdated by the rise of Initial Coin Offerings (ICOs).
The Stanford’s Professor Statements reiterated those of Mike Lempres, Chief Legal and Risk Officer at Coinbase wallet and cryptocurrency exchange, who reportedly said: “there is a lack of understanding of what is allowed and how digital assets are considered under the law; either as securities, commodities, property, or money.” During a Congressional hearing in March.