Ethereum Founder Believes In The Future Of Crypto And Blockchain Technology In The US

Ethereum co-founder Joseph Lubin. (Photo; Doc. Bitcoin Exchange Guide)

JAKARTA - Ethereum co-founder and Vitalik Buterin partner Joseph Lubin expressed his belief that in a crypto regulatory battle, "a clear mind will win."

Lubin emphasized that blockchain technology and cryptocurrencies are in line with the United States philosophy and have the potential to be followed by other countries. The CEO of the ConsenSys blockchain company considers that regulations should consider the unique characteristics of this decentralized technology.

"I anticipate that, with previous technologies such as internet, web, and cryptography, a clear mind will win," Lubin told CNBC's "Capital Connection" on Thursday.

"America will see that the decentralized protocols, blockchain, cryptocurrencies are in line with the US philosophy and I think most other countries will follow suit," said Lubin, who is also the CEO of ConsenSys.

The US Securities and Exchange Commission (SEC) is at odds with crypto companies, including Binance, Coinbase, and Ripple, over the status of crypto tokens as securities. The SEC has filed lawsuits against some of these companies, leading to uncertainty in the crypto industry.

Lubin noted that most crypto tokens are considered by the SEC as securities, but he stressed the importance of proving this status. Lubin also highlighted the importance of regulations that are in line with the growing development of crypto technology.

Currently, there is a lot of uncertainty surrounding crypto regulations in the US, and industry leaders have criticized a lack of clarity in this regard. Some have even threatened to leave the US if strict regulations continue to apply.

Nevertheless, Lubin acknowledged that the US has a major influence in the world of finance and technology. He pointed out that many other countries have taken instructions from the US in terms of crypto regulation.

Lubin's remarks reflect ongoing debates around the world about how to regulate crypto technology that continues to grow. Most stakeholders, including governments, companies and crypto communities, are looking for balanced solutions to ensure sustainable growth and protection for consumers.