The proposal, published on Github and first reported on by The Wall Street Journal, suggests oversight of digital assets should take place through a new, dedicated regulator, not the U.S. Securities and Exchange Commission. (The Logic, The Wall Street Journal)
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The proposal, published on Github and first reported on by The Wall Street Journal, suggests oversight of digital assets should take place through a new, dedicated regulator, not the U.S. Securities and Exchange Commission. (The Logic, The Wall Street Journal)
Talking point: Coinbase’s proposal is the latest example of the cryptocurrency industry flexing its muscles in Washington, D.C. Prominent Silicon Valley venture capital firm Andreessen Horowitz, which has announced three crypto funds totalling US$3.1 billion, reportedly sent executives to Washington this week to push their vision of how the sector should be regulated. Meanwhile, SEC chair Gary Gensler is pushing for more oversight of the sector and opposes a separate regulator for crypto. In September, Coinbase cancelled a planned lending product, with CEO Brian Armstrong revealing in a tweetstorm that the SEC had threatened to sue the company if it proceeded with it.
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