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Coinbase CEO believes that the US should have a new regulator for digital assets

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Oct 15, 2021

With cryptocurrencies blowing up recently, different entities have reacted in various ways. Investors are obviously very happy to see the rise in cryptocurrencies, especially since their price has been soaring as of late. Almost everyone who got into cryptocurrencies at the right time has seen varying degrees of success.

Companies have also been very enthusiastic about cryptocurrencies, especially since so many people have been using it. With those many customers, companies have been able to adjust quite nicely with how the market is shifting to this online-only payment platform.

However, countries have a less than stellar response to cryptocurrencies and how they have managed to saturate popular culture. Almost every conversation about cryptocurrencies has eventually boiled down to whether or not people will be investing in it or not. And out of all the countries, the US has had the strangest response.

While President Biden does have his grievances with the online currencies, he has been advised time and time again to not ban it. And unlike China, the US has managed to keep its promise to not ban cryptocurrencies from financial markets. But the US is not willing to allow cryptocurrencies to stay the way that they are, and is instead looking to regulate it properly.

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And even though this has brought great uproar into the crypto community, the CEO of Coinbase has different views. He believes that even if the US intends on regulating this market, they should have brand new regulators to overlook this new market.

 Top officials at Coinbase have been very vocal about how they are not looking to die on the hill of no regulation. They will be open to sensible regulation of the market, and a younger board of regulators to look over the market who actually know how everything works.

Many believe that the current US regulators have already failed to make meaningful legislation surrounding cryptocurrency when it first went popular back in 2017 and even now when the second wave of crypto popularity has swept the world. Therefore, many seem to be in favor of what the CEO of the oldest crypto exchange has to say about regulation. He has managed to change a lot of minds with his opinions on how he thinks that cryptocurrencies cannot be regulated like most markets.

Even though Coinbase officials understand that sensible regulation is no easy path to walk, and neither is the request for younger regulators. But their willingness to offer ideas for regulation shows that they are coming to the table to discuss. Which means that it is up to US officials to comment on their demands. But even with the shaky ground in the US, cryptocurrencies  have been able to rise considerably.

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