[rojonirabeya1]

The cryptocurrency crisis has multiplied the voices of important market players who are demanding, now (not before), regulation. They consider that it is the only way to stabilize the sector and remove companies from it that, as seems to have happened with FTX , acted in an allegedly fraudulent manner. The latest to join this trend is the CEO of Coinbase . The inadvertent industry cleanup that has begun with 'crypto winter' could be completed with a few regulations. Something that, everything must be said, collides with that goodness of cryptocurrencies that everyone has proudly verbalized: decentralized and without any entity or institution behind it. We will have to wait to see if after regulation (if it arrives) these characteristics can be maintained as inherent to cryptocurrencies. Coinbase CEO calls for cryptocurrency regulation The one who has expressed (or, rather, tweeted) his favorable position on regulation has been Brian Armstrong, CEO of one of the largest exchanges in the world. He draws attention to her change of opinion about him in just five months.

On Elon Musk 's social network he has assured that the United States is at risk of losing its status as a global financial center in the long term, without clear rules on cryptocurrencies and a hostile environment on the part of regulators. Congress, Armstrong highlights, "must act soon to pass clear legislation. Crypto is a world open to all and others are leading it. The EU, the UK and now Hong Kong." The CEO of Coinbase cited a tweet in which it was noted that, starting June 1, 2023, the purchase and sale of cryptocurrencies will be completely legal in Hong Kong . The message Asia Phone Number List continues, the influx of large sums of money from the East is expected. Furthermore, the Hong Kong stablecoin will also be a reality. The United States is already working on cryptocurrency regulation On September 16, 2022, the White House published a document , in which, in the same vein as the CEO of Coinbase , they assured that digital assets "present potential opportunities to reinforce the leadership of the United States in the global financial system." ". They recalled in this text the Executive Order (EO) on ensuring the responsible development of digital assets, which President Joe Biden issued on March 9, 2022.



In it, "the first-ever whole-of-government approach to addressing the risks and realizing the potential benefits of digital assets and their underlying technology was outlined ." To this end, during the 6 months prior to the publication of the note, they explain, "agencies across the Government have worked together to develop frameworks and policy recommendations that promote the 6 key priorities identified in the EO: Consumer and investor protection. Promote financial stability. Counter illicit financing. U.S. leadership in the global financial system and economic competitiveness. Financial inclusion. Responsible innovation. From the different works, 9 reports have emerged that, together, they affirm, articulate a clear framework for the responsible development of digital assets and pave the way for future actions in the country and abroad. The reports, they note, encourage the Federal Reserve to continue its research, experimentation and evaluation of an ongoing central bank digital currency (CBDC) and call for the creation of an interagency working group led by the Treasury to support the efforts of the Federal Reserve.
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