Bitcoin NewsEthereum NewsNFT NewsDeFi NewsAltcoin NewsBlockchain NewsPress Releases Sponsored Cryptonews Deals Industry Talk ICO newsFinance NewsTechnology News
No Result
View All Result
Monday, January 30, 2023
  • Login
  • News Story
  • Blockchain
  • Cryptocurrency
    • Exchanges
  • NFT
  • Metaverse
  • DAO
  • Listicle
Subscribe
Bitcoin NewsEthereum NewsNFT NewsDeFi NewsAltcoin NewsBlockchain NewsPress Releases Sponsored Cryptonews Deals Industry Talk ICO newsFinance NewsTechnology News
  • News Story
  • Blockchain
  • Cryptocurrency
    • Exchanges
  • NFT
  • Metaverse
  • DAO
  • Listicle
No Result
View All Result
Bitcoin NewsEthereum NewsNFT NewsDeFi NewsAltcoin NewsBlockchain NewsPress Releases Sponsored Cryptonews Deals Industry Talk ICO newsFinance NewsTechnology News
No Result
View All Result
ADVERTISEMENT
Home Exchanges

Protecting DeFi from regulators: the new fight of the boss of Coinbase

by Ashutosh Thakur
October 25, 2022
in Exchanges
128
0
Coinbase Sec
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

RelatedPosts

The New Crypto Limit Standards 2025: What Will Change?

FTX affair: donations made to politicians to be returned at all costs

Prohibition of cryptocurrencies in the United States: this senator is working on it

“The dose alone makes the poison” – This Latin phrase is attributed to the 16th century Swiss physician and alchemist nicknamed Paracelsus. It means “Only the dose makes the poison”. And when we talk about regulation in cryptocurrencies, it is often a question of dosage and cursor. On this subject, the CEO of Coinbase knows a ray of it, he who works openly for a clear American regulatory framework. But who would benefit whom? To centralized platforms and its customers? To users of decentralized protocols? Start of response in the series of tweets from Brian Armstrong.

Cryptos, digital goods? Brian Armstrong says yes

Last weekend, the leader of the San Francisco cryptocurrency platform wanted to speak on the oh so hot topic of the regulation of cryptocurrencies in the land of Uncle Sam. He has, for example, greeted Sunday afternoon the parliamentary work of two members of Congress in a message posted on Twitter.

He made reference to Debbie Stabenow and to John Boozman. The first is a Democratic senator from Michigan, while the second is a Republican senator from Arkansas. Like what, crypto can break down partisan barriers. But back to our subject !

The project of Law Stabenow-Boozman – named after the two senators – concerns cryptocurrencies and their supervision by the Commodity Futures Trading Commission (CFTC). This independent federal agency is responsible for overseeing and regulating the commodity exchanges where raw materialsmothers.

And if the cryptocurrencies were finally vulgar “digital goods” ? This is the original idea of ​​these senators and it does not please the supporters of regulation by Security and Exchange Commission (DRY). Brian Armstrong therefore takes a position in a legal tussle between two federal agencies that each claim their legitimacy to regulate cryptocurrencies.

Brian Armstrong encourages DeFi regulation and salutes the work of two senators – Source: Twitter

Sam Bankman-Fried and Brian Armstrong on the same wavelength?

On this subject, the CEO of Coinbase is very clear in his message:

“It should be clarified, for the record, that DeFi should be protected in any legislation aimed at regulating exchanges and centralized depositories. Thanks to Debbie Stabenow and John Boozman for trying to get it right! »

The term “cryptocurrency” understood here as assets bought or sold in cash – spot in English – and does not apply to all financial derivative products in the sector. In addition, the boss of Coinbase wished to react to the controversy who agitated the small microcosm of Twitter this weekend about the suggestions of Sam Bakman-Fried.

Coinbase Boss Brian Armstrong Has Come Out In Favor Of His Counterpart At Ftx.  Yes, The Regulation Of Defi Is Essential For The Sector To Develop.  But Also For Geostrategic Reasons.
Coinbase CEO supports Sam Bankman-Fried in his stance on DeFi regulation – Source: Twitter

Crypto issues that go beyond the financial framework

Indeed, the latter had published the previous week a post on the blog of FTX where he exposed his vision of the regulation of the DeFi sector. This document triggered an outcry and even gave rise to a focus of the young CEO.

For his counterpart Brian Armstrong, the regulation of DeFi is also necessary and SBM is right to call for it. But the challenges of regulation do not stop there. The boss of Coinbase specifies that there is “the future of America and the free world”. He recalls that the United States has “missed 5G and semiconductors” and that no country can afford to “let go of his cryptocurrency companies”.

The business owners are definitely at the heart of debates related to regulation and do not intend to leave this subject to politicians alone. Brian Armstrong understood that a too much regulation coercion would have negative effects on the sector and therefore calls for a good regulatory mix. However, let us recognize that so far, the contours of this regulatory framework remain unclear. The only certainty is that all the giants of the sector are seeking to comply with the few existing laws on the subject.

Bitcoin, ether, Solanna or even Polkadot… Do DeFi cryptos seem inaccessible to you? Raise your head and smile again. 

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Related Posts

Banque Crypto 1
Exchanges

The New Crypto Limit Standards 2025: What Will Change?

December 21, 2022
1.9k
Ftx Recouvrement Don
Exchanges

FTX affair: donations made to politicians to be returned at all costs

December 20, 2022
1.9k
Senateur Americain Interdire Cryptomonnaies
Exchanges

Prohibition of cryptocurrencies in the United States: this senator is working on it

December 20, 2022
1.9k
Fed Hausse
Exchanges

What does the latest Fed interest rate hike mean for bitcoin?

December 15, 2022
1.9k
Ftx Cle
Exchanges

Post-mortem FTX: non-existent security for the private keys of its customers

December 14, 2022
1.9k
Sushiswap
Exchanges

SushiSwap far from profitable – Jared Gray announces tokenomics overhaul

December 13, 2022
1.9k
Load More
  • Trending
  • Comments
  • Latest
-The Blockchain Cafe

Write for us – guest post

April 14, 2022
Celcryptocrash

Important Update On The Celsius Network

June 14, 2022
Tcs-The Blockchain Cafe

TCS roll-outs Quartz DevKit to help businesses build blockchain applications 40% faster

December 4, 2021
Xiomi -The Blockchain Cafe

You should know about Xiaomi Blockchain

December 5, 2021
The Blockchain Cafe

10 Things A Crypto Beginner Should Know

0
The Blockchain Cafe

Ethereum: 10 Things You Did Not Know

0
The Blockchain Cafe

What Is Ripple: Complete Guide For Beginners

0
Sto-The Blockchain Cafe

What Is Security Token Offering (STO)?

0
Bnbchain

BNB Chain becomes the largest layer 1 blockchain in the world!

December 23, 2022
Banque Crypto 1

The New Crypto Limit Standards 2025: What Will Change?

December 21, 2022
Hedera Nft

Hedera prepares to tap into the next big NFT wave

December 21, 2022
Ftx Recouvrement Don

FTX affair: donations made to politicians to be returned at all costs

December 20, 2022
Bitcoin NewsEthereum NewsNFT NewsDeFi NewsAltcoin NewsBlockchain NewsPress Releases Sponsored Cryptonews Deals Industry Talk ICO newsFinance NewsTechnology News

© 2022 The Blockchain Cafe - Designed and Maintenance by The Blockchain Cafe.

Navigate Site

  • News Story
  • Blockchain
  • Cryptocurrency
  • NFT
  • Metaverse
  • DAO
  • Listicle

Follow Us

No Result
View All Result
  • News Story
  • Blockchain
  • Cryptocurrency
    • Exchanges
  • NFT
  • Metaverse
  • DAO
  • Listicle

© 2022 The Blockchain Cafe - Designed and Maintenance by The Blockchain Cafe.

Welcome Back!

Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version