A new pro-crypto stance in Washington has sparked optimism across the digital asset landscape.
Roundtable presenter Rob Nelson and Johann Kerbrat, head of crypto at Robinhood, discussed how the new administration, with pro-cryptocurrency leadership, could reshape the industry’s regulatory framework.
Kerbrat highlighted the challenges of the past four years, noting that “regulation by enforcement” has been a persistent obstacle for the industry. He expressed hope that the new administration’s pro-crypto messaging signals a move toward collaborative regulation.
“I think what’s going to happen is instead of chasing crypto companies out of the United States, we’re going to start to see an influx of people coming back from outside the United States to build in the States “United,” he said.
Nelson stressed the need for clear guidelines, agreeing with Kerbrat that the lack of a defined framework has been detrimental. “Tell us what the framework is, don’t decide after the fact,” Nelson insisted, emphasizing the need for proactive rather than reactive regulation.
Kerbrat stressed the importance of customer protection in any regulatory approach. He pointed to past crypto scandals like Mt. Gox and FTX, saying clearer rules could have mitigated such crises. “Having a framework stating that you cannot hold assets without multiple people being involved in any movement of funds, or that you cannot commingle funds between company and client assets” would be instrumental, he explained.
Kerbrat also highlighted Robinhood’s experience with regulation, saying, “We are not against regulators or regulations. Robinhood is regulated by several regulators. He stressed the importance of a well-defined framework to encourage innovation while ensuring compliance with the rules.
As the industry anticipates the new administration, both speakers agree that constructive regulation could be transformative. “We’re really available to regulators and the administration to help draft any bill or anything that can help the industry move forward,” Kerbrat concluded, signaling optimism for a new era of regulation of cryptography in the United States.
