Coinbase’s Chief Policy Officer Faryar Shirzad has called on Congress to establish clear crypto regulations. The company outlined six key priorities to protect users and foster industry growth in the United States.
The Push for Regulatory Clarity
Coinbase wants Congress to move away from restrictive legislation. The current regulatory environment has created uncertainty for both innovators and consumers. This has limited the growth potential of blockchain technology in the US market.
The six priorities focus on practical solutions:
- Clear definitions for digital assets
- CFTC oversight of spot markets
- Updated SEC fundraising rules
- Stablecoin framework development
- DeFi and digital commerce protection
- Guidelines for centralized platforms
Market Implications
This regulatory push could reshape the US crypto landscape. Clear rules would likely attract more institutional investors. It could also bring traditional banks into the crypto space.
The timing is significant. With a new administration potentially more open to crypto, the industry might see positive changes. This could boost market confidence and institutional adoption.
The Role of Regulatory Bodies
Coinbase suggests giving the CFTC more authority over spot markets. This would affect how Bitcoin and Ethereum are regulated. The SEC would focus on security tokens and fundraising rules.
This division of responsibilities could create a more efficient regulatory system. It would provide clearer guidelines for crypto businesses and investors.
Advertisement
Trade crypto with up to 100x leverage on DeFX. Access advanced trading features and multi-chain support.
Future Outlook
The industry awaits Congressional response to these proposals. Clear regulations could trigger a new growth phase in US crypto markets. This might also influence global crypto regulatory standards.
Positive regulatory changes could boost crypto adoption and market stability. They would provide a foundation for sustainable industry growth.
Tags: Crypto Regulation, Coinbase, US Congress, Digital Assets, Regulatory Framework
Source: Bitcoinist