Coinbase recently visited Washington D.C. to advocate for clearer crypto regulations, highlighting the industry’s call for more transparent governance.
Earlier, Coinbase and several crypto stakeholders took their “Stand with Crypto” campaign to Washington D.C. to garner support for clearer crypto regulatory frameworks.
On Sep. 27, a delegation led by Coinbase CEO Brian Armstrong and approximately 40 crypto founders in the United States converged in the capital.
Their objective was to implore lawmakers to back a new set of regulations designed specifically for the digital currency market.
Previously, the Republican-dominated House Financial Services Committee and House Committee on Agriculture had given the green light to these rules. Their approval, if actualized into law, aims to simplify the compliance process for crypto companies by reducing regulatory hurdles.
Armstrong contends that the U.S., like other G20 nations, should establish transparent regulations for the crypto sector. However, the journey has been challenging.
Skeptics believe that due to the ongoing budget conflict at the federal level and a concurrent Senate focus on combating crypto money laundering, the sought-after legislation might not garner the requisite attention.
Reactions to the campaign are varied. Online platforms bear witness to this polarization.
On X (Twitter), users lauded Coinbase’s proactive efforts as pivotal for policy transformation.
Meanwhile, on Reddit, some members speculated that the decentralized, tran
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Author: Bralon Hill
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