Blockchains | Cryptocurrencies | Web3 Resource logo Blockchains | Cryptocurrencies | Web3 Resource logo
Seeking Alpha 2021-10-14 19:34:03

Coinbase suggests new crypto regulatory framework to replace SEC

Cryptocurrency exchange Coinbase (NASDAQ:COIN) urges Congress to create a single federal crypto market regulator instead of applying existing regulations to digital assets, according to the company's Digital Policy Proposal. "There should be one federal regulator designated for digital asset markets," Faryar Shirzad, chief policy officer at Coinbase (COIN) told reporters, MarketWatch reports. The new regulator would be responsible for registering and supervising marketplaces for digital assets to ensure against fraud and manipulation; it would also be in charge of initial coin offerings, which allows a crypto to trade on a public exchange — much like an initial public offering for a business. Note that the U.S. Securities and Exchange Commission cleared its first regulated version of an initial coin offering in July 2019. But the SEC has sought to intervene in cryptocurrencies countless of times in the past year alone, and even came after Coinbase (COIN) in September, saying it

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer