This week, the Director of Coinbase Public Policy asked the United States Congress to take the subject of Crypto regulation in Bras-le-Corps. What are his requests?
Coinbase wants the congress to accelerate in terms of Crypto regulation
With the change of government in the United States, the cryptocurrency ecosystem finally expects more clarity in this jurisdiction. While the Securities and Exchange Commission (SEC) seems to have fully immersed themselves on the file, Coinbase, for his part, called the congress to “act up»»so as to establish “A solid regulatory framework that benefits the entire cryptocurrency sector and 52 million Americans who have them».
💡 What is our opinion on the Coinbase cryptocurrency platform?
In his blog article, Faryar Shirzad, the Director of Coinbase Public Policy, thus offers 4 main axes which should be integrated into this regulation so that it is relevant:
- A freedom to code for developers;
- A freedom of choice for the consumer in his cryptocurrency guard solutions (with or without intermediaries);
- Promote simple access to stoking solutions for individuals;
- Create safeguards for centralized intermediaries, especially in terms of transparency.
Coinbase: Register on the most famous Crypto exchange in the world
In addition, this framework should allow decentralized finance (DEFI) to develop “without unjustified restrictions»»and, in general, remain clear and simple by completing the current regulations of traditional finance:
The American financial regulation system has served us well for decades. Instead of reinventing the wheel, the legislation on cryptocurrencies should be integrated transparently into these frameworks while leaving room for new technologies.
More specifically, Faryar Shirsad takes over requests already expressed by the industry in the past, such as giving authority to the Commodity Futures Trading Commission (CFTC) concerning cryptocurrencies assimilated to raw materials such as the BTC and the Eth. He also requests to integrate measures on stablecoins, on lifes and funds, and to clarify what is or us of the securities law.
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While regulations are a long-standing subject in the United States, and no initiative to establish this famous executive has never ended, it will be interesting to follow these developments to see how they could compete with other jurisdictions of world.
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Source: Coinbase
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Since 2021, I have devoted my free time to seriously train myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to carry out interviews with influential personalities from the blockchain industry. I also conduct in -depth analyzes on web3 themes to offer exclusive content to cryptoast readers.
Vincent Mayor
1619 articles
