THELOGICALINDIAN - Crypto barter Coinbase has been affair with a cardinal of regulators to argue them that the US should accept aloof one federal regulator administering the crypto area Currently there is a array of altered regulators in the US CEO Brian Armstrong explained acquainted that Coinbase has 53 regulators in aloof one country the United States
Coinbase Wants One Regulator in the US
The Nasdaq-listed cryptocurrency barter Coinbase is blame for the U.S. to accept aloof one crypto regulator.
“We’ve met with a cardinal of altered regulators out there … on a approved base … I had a affair aftermost anniversary with the administrator of the SEC, Chair [Gary] Gensler, which I anticipate was actual productive,” Coinbase CEO Brian Armstrong said during the company’s Q3 balance alarm aftermost week.
“There’s a array of altered regulators in the United States … There’s the CFTC [Commodity Futures Trading Commission], the SEC [Securities and Exchange Commission], the Treasury. And then, of course, we accept accompaniment regulators as able-bodied on money manual licenses and lending licenses,” he added.
Noting that Coinbase serves barter in added than 100 countries, Armstrong opined:
The CEO proceeded to advertence the crypto authoritative angle Coinbase published in October. The Digital Asset Policy Angle (DAPP) recommends accepting one distinct federal regulator in the U.S.
“It could be beneath one of the absolute regulators. It doesn’t accept to be a absolutely new entity, but it’d be nice to consolidate it a bit and use that as a way to accredit added addition in this space,” Armstrong continued, emphasizing that accepting abounding regulators absolutely harms startups in the space.
“Our ambition appropriate now is to get our regulator focused on crypto,” said Coinbase’s arch banking administrator (CFO), Alesia Haas.
She explained that “the technology is aloof so different,” acquainted that it can annihilate the charge for some acceptable banking services. The CFO opined:
Do you accede with Coinbase that the U.S. should aloof accept one crypto regulator? Let us apperceive in the comments area below.
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