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Katie Haun States That the U.S. Should Not Follow in China's Footsteps with the Crypto Industry

By Aaron - Cryptocurrency Retailer - 30-09-2021

Ever since the crypto crackdown in China, the crypto community has been fearfully waiting on what will happen next. However, a tech venture capitalist, Katie Haun, believes that the latest events offer some guidance for countries on what not to do. Haun has stated that the United States should avoid making the same mistakes as China regarding cryptocurrency. In fact, Haun believes cryptocurrency assets and the industry should be considered an opportunity for the U.S. 

Haun, a long-time federal prosecutor, further stated that the U.S needs to do the exact opposite of China's ban on buying and selling Bitcoin (BTC) and other cryptocurrencies. In an interview with CNBC, Haun stated that China is quickly progressing its digital yuan, which is already being made available to the nation for a test run. With China's central bank digital currency (CBDC) information, Haun predicts that the country will bind commerce, tie loans, and aids to the digitalised yuan. Huan further compares the digital national currency to that of a stablecoin, a crypto-to-fiat coin that is often pegged to the price of another currency or commodity.

Reportedly, the citizens of China are fully aware that nothing can hold authority over cryptocurrencies. With that in mind, many people and entities wish to regulate it in some way to maintain control. However, the decentralised nature behind Bitcoin and other cryptos make cryptocurrency's technology and usage so trustworthy.

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