Coinbase Executive States US is Lagging in Crypto Regulations Compared to G20 Countries

Coinbase’s Chief Policy Officer Faryar Shirzad expressed that the US is lagging behind G20 countries in creating necessary regulatory frameworks for cryptocurrencies. He stated that the US is slow to take clear steps in this regard and is in a divergent position among major economies. He emphasized that G20 countries make up a significant portion of the global economy and most of these countries have established regulatory frameworks for cryptocurrencies. Clear Progress in Crypto Regulations Shirzad indicated that countries such as the EU, UK, Hong Kong, Australia, Singapore, Brazil, and Canada have integrated cryptocurrencies into their financial systems, focusing on consumer protection and sectoral growth. He highlighted the urgent need for regulations, especially for stablecoins and broad market structures, in the US, which has made slow progress in this regard. US Regulatory Approach Insufficient Shirzad, advocating for acceleration of regulatory developments in the US to facilitate sectoral growth and consumer […]

Coinbase Executive States US is Lagging in Crypto Regulations Compared to G20 Countries

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

Clear Progress in Crypto Regulations

Shirzad indicated that countries such as the EU, UK, Hong Kong, Australia, Singapore, Brazil, and Canada have integrated cryptocurrencies into their financial systems, focusing on consumer protection and sectoral growth. He highlighted the urgent need for regulations, especially for stablecoins and broad market structures, in the US, which has made slow progress in this regard.

US Regulatory Approach Insufficient

Shirzad, advocating for acceleration of regulatory developments in the US to facilitate sectoral growth and consumer protection, emphasized the need for clear regulatory frameworks to protect competition in the crypto space and advocate for the interests of the citizens. He noted the increasing importance of regulatory clarity due to the rapid development of the global crypto market and stated that the US can maximize the potential of the crypto sector with transparent and comprehensive regulations.

Equality in Crypto Regulations

He stressed the importance of the US taking regulatory steps at the same level as other major economies to ensure safety and security in the crypto sector. He highlighted that equal regulatory frameworks would contribute to sectoral growth and protect consumer rights.

Points to Consider

– The US lags behind G20 countries in crypto regulations.
– G20 countries represent a large part of the world economy and have embraced regulatory frameworks for cryptocurrencies.
– There is an urgent need for regulations for stablecoins and broad market structures in the US.
– The US needs to make regulations to protect competition in the crypto sector and advocate for the interests of citizens for the development of the crypto sector.

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