Coinbase calls for clear regulations for crypto services by US banks.

Coinbase Appeals to US Regulatory Authorities for Banks Providing Crypto Services

Coinbase, one of the world’s leading cryptocurrency exchanges, has appealed to the US regulatory authorities to pave the way for banks that want to offer crypto services. This request aims at creating a clearer regulatory framework and removing existing barriers that prevent financial institutions from fully engaging in the crypto sector.

In its statement, Coinbase argues that current regulations are too restrictive and unclear, forcing banks to be overly cautious in dealing with cryptocurrencies. The exchange emphasizes that a revision of the legal conditions is necessary to foster innovation and position the United States as a leader in the crypto industry.

Coinbase highlights numerous advantages associated with increased banking involvement in the crypto sector, including improved access to digital financial products for consumers and companies as well as increased competition, which can lead to better services and lower costs.

To convince regulatory authorities of the importance of this step, Coinbase refers to developments in other countries that are already more open to crypto services by banks. It warns that the US could fall behind if it does not quickly adapt its regulatory standards to meet the needs of the growing digital economy.

The exchange firmly believes that a close collaboration between the crypto industry, banks, and regulators could establish a secure and innovative financial environment. It urges US authorities to adopt a proactive approach to cryptos by adopting brighter and more transparent regulations.

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