Coinbase Executive Says the US is Lagging Behind in Crypto Regulations

Coinbase’s Chief Policy Officer Faryar Shirzad has pointed out that the US is lagging behind G20 countries in creating necessary regulatory frameworks for cryptocurrencies. He expressed that the US is slow to take clear steps in this regard and is in a discordant position among major economies. He emphasized that G20 countries constitute a significant part of the global economy and most of these countries have established regulatory frameworks for cryptocurrencies. Cryptocurrency Regulatory Progress is Apparent Shirzad noted that countries such as the EU, the UK, Hong Kong, Australia, Singapore, Brazil, and Canada have integrated cryptocurrencies into their financial systems, focusing on consumer protection and sector growth. He highlighted that the US is progressing slowly in this regard and emphasized the urgent need for regulations, especially for stablecoins and broad market structures. The US Regulatory Approach is Insufficient Advocating for accelerated regulatory developments in the US to ensure sector growth […]

Coinbase Executive Says the US is Lagging Behind in Crypto Regulations

Coinbase’s Chief Policy Officer Faryar Shirzad has pointed out that the US is lagging behind G20 countries in creating necessary regulatory frameworks for cryptocurrencies. He expressed that the US is slow to take clear steps in this regard and is in a discordant position among major economies. He emphasized that G20 countries constitute a significant part of the global economy and most of these countries have established regulatory frameworks for cryptocurrencies.

Cryptocurrency Regulatory Progress is Apparent

Shirzad noted that countries such as the EU, the UK, Hong Kong, Australia, Singapore, Brazil, and Canada have integrated cryptocurrencies into their financial systems, focusing on consumer protection and sector growth. He highlighted that the US is progressing slowly in this regard and emphasized the urgent need for regulations, especially for stablecoins and broad market structures.

The US Regulatory Approach is Insufficient

Advocating for accelerated regulatory developments in the US to ensure sector growth and consumer protection, Shirzad stated that the US needs to establish clear regulatory frameworks to maintain its competitiveness in the crypto space and to advocate for the interests of its citizens. He emphasized the increasing importance of regulatory clarity due to the rapid growth of the global crypto market and expressed that the US can maximize the potential of the crypto sector with transparent and comprehensive regulations.

Equality in Crypto Regulations Should Be Ensured

He emphasized the necessity for the US to take regulatory actions at the same level as other major economies to ensure safety and security in the crypto sector. Establishing equal regulatory frameworks will contribute to sector growth and protect consumers’ rights.

Points to Consider

– The US lags behind G20 countries in crypto regulations.
– G20 countries represent a large portion of the world economy and have adopted regulatory frameworks for cryptocurrencies.
– The US urgently needs regulations for stablecoins and broad market structures.
– For the development of the crypto sector, the US needs to make regulations that maintain its competitiveness and advocate for the interests of its citizens.

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