Ideas for Crypto Regulation in The US.
Yesterday, Coinbase CEO, Brian Armstrong, did an interview with Bloomberg Crypto (who, we just learned, use the Twitter handle @crypto ).
The main topic: the current state of regulation around crypto in the U.S.
During the interview Armstrong reiterated that staking services shouldn’t be registered as a security.
We really just are providing a service that passes through those coins to help [users] participate in staking, which is a decentralized protocol.
He went on to say how strongly he believed that the crypto industry needs a clear set of rules (that stay for years, if not decades).
His main point was that, in order for the average person to stay within the regulatory parameters; they must feel confident that they're provided with good consumer protection.
His last point, which is an important one, was that whatever rules are put in place in the US, they should be created with innovation in mind.
The US has the biggest economy in the world, and in order to "compete with the financial systems of the future" he said, the U.S. “needs to be a technology hub.”
Only time will tell which direction the government goes on future debates about crypto regulation.
But as Brian says, the sooner, the better - and the less it stifles innovation, the more potential for growth.
