Coinbase CEO Circulates New Crypto Regulation Blueprint

Brian Armstrong, chief executive officer of Coinbase, put into circulation a crypto regulation proposal. Armstrong believes that this blueprint will consolidate the United States’ position as a global financial leader. This comes as Coinbase launches the Digital Asset Policy Proposal in anticipation of a blockchain-driven and decentralized internet. The proposal also recognizes and plans for the emergence of digital currencies as a new asset class.

Armstrong’s assertion goes beyond the US retaining its position at the helm of global finance. The exchange’s CEO also suggested that the benefits brought about by the incoming technological change are far-reaching. In his own words:

“Web3 is upon us and represents an enormous opportunity for America to not just retain its status as a financial hub, but also to encourage innovation, create jobs, and grow the economy.”

Faryar Shirzad, Coinbase chief policy officer, says the proposal comprises four pillars, including the following:

• Regulation of digital assets under a separate framework
• Have a unifying single regulator for the digital assets markets
• Protect and empower holders of digital assets
• Foster interoperability and healthy competition

Furthermore, Armstrong intimates that the proposal takes into account the views from a wide social spectrum, considering government stakeholders and individuals within the crypto space and academia. According to Coinbase, many of these views were culled from in-depth meetings with representatives from multiple industries. As Armstrong put it, “…we completed more than 75 meetings with stakeholders in government, industry, and academia to help shape this proposal.”

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