{"id":14309,"date":"2021-11-15T00:54:19","date_gmt":"2021-11-15T00:54:19","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/coinbase-pushes-for-single-crypto-regulator-ceo-says-we-have-53-regulators-in-just-one-country-the-us\/"},"modified":"2021-11-15T00:54:19","modified_gmt":"2021-11-15T00:54:19","slug":"coinbase-pushes-for-single-crypto-regulator-ceo-says-we-have-53-regulators-in-just-one-country-the-us","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/coinbase-pushes-for-single-crypto-regulator-ceo-says-we-have-53-regulators-in-just-one-country-the-us\/","title":{"rendered":"Coinbase Pushes for Single Crypto Regulator: CEO Says \u2018We Have 53 Regulators in Just One Country, the US\u2019"},"content":{"rendered":"

Crypto exchange Coinbase has been meeting with a number of regulators to convince them that the U.S. should have just one federal regulator overseeing the crypto sector. Currently, there is a variety of different regulators in the U.S., CEO Brian Armstrong explained, noting that Coinbase has \u201c53 regulators in just one country, the United States.\u201d<\/strong><\/p>\n

Coinbase Wants One Regulator in the US<\/h2>\n

The Nasdaq-listed cryptocurrency exchange Coinbase is pushing for the U.S. to have just one crypto regulator.<\/p>\n

\u201cWe\u2019ve met with a number of different regulators out there \u2026 on a regular basis \u2026 I had a meeting last week with the chairman of the SEC, Chair [Gary] Gensler, which I think was very productive,\u201d Coinbase CEO Brian Armstrong said during the company\u2019s Q3 earnings call last week.<\/p>\n

\u201cThere\u2019s a variety of different regulators in the United States \u2026 There\u2019s the CFTC [Commodity Futures Trading Commission], the SEC [Securities and Exchange Commission], the Treasury. And then, of course, we have state regulators as well on money transmission licenses and lending licenses,\u201d he added.<\/p>\n

Noting that Coinbase serves customers in more than 100 countries, Armstrong opined:<\/p>\n

It\u2019s kind of amazing that we, Coinbase, have 53 regulators in just one country, the United States.<\/p>\n

The CEO proceeded to reference the crypto regulatory proposal Coinbase published<\/a> in October. The Digital Asset Policy Proposal (DAPP) recommends having one single federal regulator in the U.S.<\/p>\n

\u201cIt could be underneath one of the existing regulators. It doesn\u2019t have to be a completely new entity, but it\u2019d be nice to consolidate it a bit and use that as a way to enable more innovation in this space,\u201d Armstrong continued, emphasizing that having many regulators really harms startups in the space.<\/p>\n

\u201cOur goal right now is to get our regulator focused on crypto,\u201d said Coinbase\u2019s chief financial officer (CFO), Alesia Haas.<\/p>\n

She explained that \u201cthe technology is just so different,\u201d noting that it can eliminate the need for some traditional financial services. The CFO opined:<\/p>\n

We think that having a single regulator, who really deeply understands the technology and then helps bring what the new principles for financial regulation in crypto look like, will be helpful.<\/p>\n

Do you agree with Coinbase that the U.S. should just have one crypto regulator? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, Coinbase, coinbase crypto proposal, coinbase licenses, coinbase regulators, Cryptocurrency regulation, Regulators, SEC, sec chair gary gensler, us crypto regulation, US Regulation, US Regulators<\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto exchange Coinbase has been meeting with a number of regulators to convince them that the U.S. should have just one federal regulator overseeing the crypto sector. Currently, there is a variety of different regulators in the U.S., CEO Brian Armstrong explained, noting that Coinbase has \u201c53 regulators in just one country, the United States.\u201d…<\/p>\n","protected":false},"author":0,"featured_media":14310,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14309"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14309"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14310"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}