Coinbase is in talks with major Canadian banks to gain support for the crypto industry in Canada as it faces regulatory uncertainty in its home country, aiming to have the banks participate in the crypto economy in the near future.
Prominent crypto commentators criticize the new crypto tax reporting rules proposed by President Joe Biden, fearing that they will push the crypto industry further away from the US and stifle innovation.
Coinbase CEO Brian Armstrong shared ten emerging ideas in the cryptocurrency space that excite him, including the creation of a CPI-linked stablecoin, on-chain reputation systems, on-chain advertising, and decentralized labor markets.
Coinbase has launched a crypto lending service for institutional investors in the US, aiming to capitalize on failures in the crypto lending market.
Ripple Labs Chair Chris Larsen believes that the US legal system needs to take the lead on crypto policy after the Biden administration's mishandling of the industry, stating that it is time for Congress to step in and provide clarity and regulation.
Crypto exchange Coinbase plans to focus on non-U.S. markets, including the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia, due to their clearer crypto laws, as it seeks to expand its operations and establish partnerships with global and local banks and payment providers while ensuring compliance with governance systems. The company also aims to intensify its lobbying and visibility efforts ahead of the EU elections and engage with the G20 to create global crypto standards.
Coinbase CEO Brian Armstrong discusses the company's base layer 2 blockchain network, interest in flatcoin, and the need for regulatory clarity in the crypto industry, suggesting that the courts, congress, and the CFTC could provide clarity and that there could be a new SEC chair in 2024.
The lack of clear crypto regulations in the US has caused significant issues for the industry, leading to collapses and a weakening of America's position as a financial hub, according to Coinbase CEO Brian Armstrong. He emphasizes the need for clear rules that recognize the innovation potential of the technology while protecting consumers. Armstrong also highlights the potential benefits of Bitcoin exchange-traded funds (ETFs) and Coinbase's role as custodian in many ETF applications.
Coinbase CEO Brian Armstrong predicts that cryptocurrencies will be a prominent topic in the 2024 US elections as the gap between current crypto policies and the needs of Americans becomes more apparent.
Coinbase CEO Brian Armstrong revealed in an interview that the exchange is interested in developing the next generation of stablecoins, including the concept of flatcoin, which would be backed by the Consumer Price Index (CPI) or purchasing power rather than a fiat currency.
U.S. Securities and Exchange Commission Chair Gary Gensler continues to emphasize the importance of crypto companies complying with securities laws, despite recent setbacks in court cases against the industry. Gensler will discuss recent enforcement actions and proposals related to cryptocurrency firms but will avoid discussing ongoing litigation, including high-profile cases against Coinbase and Binance.
Coinbase CEO Brian Armstrong confirms that the crypto exchange will integrate the Lightning Network, a move that will significantly speed up bitcoin transactions and make it a more viable payment option.
Coinbase CEO Brian Armstrong advocates for decentralized finance (DeFi) protocols and suggests legal action to establish a legal precedent, while MakerDAO's founder believes decentralized stablecoins could dominate the crypto market, and Polygon CEO acknowledges the success of their $1 billion investment in zero-knowledge proof rollups. Additionally, market surveillance firm Solidus Labs reveals that decentralized exchanges have become a hotspot for wash trading, and a DeFi advocacy group petitions to stop a patent troll from targeting DeFi protocols. Despite a mixed week for the top 100 DeFi tokens, the total value locked into DeFi protocols remains above $49 billion.
The AI industry should learn from the regulatory challenges faced by the crypto industry and take a proactive approach in building relationships with lawmakers, highlighting the benefits of AI technology, and winning public support through campaigns in key congressional districts and states.
Coinbase, the largest U.S. cryptocurrency exchange, is actively engaging with Ohio voters through events, ads, and lobbying efforts, highlighting the potential economic benefits of the crypto industry to the state. They are pushing for the passage of the FIT21 Act, which would provide regulatory clarity for cryptocurrency exchanges. However, the legislation's fate is uncertain, as there are differing opinions among lawmakers regarding crypto regulation.
Crypto legislation is unlikely to progress in the current US Senate, according to former Senator Pat Toomey, despite recent progress in the House, although the lack of a clear position from Senate Banking Committee Chairman Sherrod Brown may be seen as a positive sign according to Coinbase's policy chief.
Coinbase, the U.S. cryptocurrency exchange operator, may invest more elsewhere if the U.S. cannot get crypto regulation right, raising questions about whether the U.S. is still the primary hub for crypto innovation and development.
Coinbase is leading a major lobbying effort in Washington D.C. to garner support for new regulations in the cryptocurrency industry.
Coinbase CEO Brian Armstrong criticizes JPMorgan Chase's decision to block crypto transactions at its U.K. digital banking subsidiary, calling for government regulation rather than banks de-platforming the industry.
Institutional involvement in the crypto industry provides regulatory certainty and clarity, forcing regulators to address taxation, compliance, and reporting challenges, benefiting the entire industry and legitimizing digital assets.
Coinbase, the top US crypto exchange, is focusing on international markets due to regulatory uncertainty in the US and aims to bring a billion people into crypto.
Coinbase is facing a legal battle with federal regulators over its operation as an unregistered securities exchange, with three new legal filings supporting the SEC's argument that it has the authority to regulate cryptocurrency under existing laws.
Coinbase, the largest US crypto exchange, argues that a proposed IRS rule to define crypto brokers and regulate tax payments will threaten the industry and invade Americans' privacy.
The crypto industry is actively lobbying Congress for laws that clarify how cryptocurrencies will be regulated, with recent events highlighting the industry's financial support for political campaigns.
Coinbase has chosen Ireland as its regulatory hub in the EU, positioning itself to take advantage of the Markets in Crypto Assets (MiCA) laws which will allow crypto service providers to operate across the bloc.
