In a world where crypto rules keep changing, one big company is pushing for major changes. Coinbase, a leading crypto exchange, has a bold new plan for how the government should handle digital money.
The company wants SEC staff to get hands-on with crypto tech. Right now, many regulators don’t fully understand the technology they’re trying to control.
“You can’t regulate what you don’t understand,” said Paul Grewal, Coinbase’s Chief Legal Officer. His statement echoes across the crypto industry.
Coinbase’s proposal asks SEC workers to open accounts and use crypto services. This real-world experience would help them make better rules, the company argues.
The plan comes after years of tension between Coinbase and the SEC. The agency sued Coinbase last year, claiming it broke securities laws. Coinbase has pushed back hard.
Many experts on Epochedge believe current crypto rules are outdated. They were designed for traditional finance, not digital assets.
Brian Armstrong, Coinbase CEO, has been vocal about the need for clearer rules. “We need regulations that actually work for crypto,” he said in a recent interview.
The company’s 16-page document outlines many problems with how crypto is regulated today. It points to conflicting guidance and unclear standards across different agencies.
“It’s like trying to use rules for horses to regulate cars,” explained one crypto expert. The mismatch creates confusion for everyone.
Coinbase isn’t alone in this fight. Other crypto companies have joined calls for better regulation. They worry that unclear rules will push innovation overseas.
Meanwhile, other countries are moving ahead with crypto-specific frameworks. The UK, Singapore, and the EU have all developed targeted approaches to digital assets.
Some technology experts say the U.S. risks falling behind. Without sensible rules, America could lose its edge in financial innovation.
The proposal also asks regulators to work with industry experts. This collaboration could lead to smarter, more effective rules.
Critics worry that closer ties between regulators and companies might lead to lax oversight. Finding the right balance is tricky.
Education is another key part of Coinbase’s plan. The company suggests training programs for government staff to learn crypto basics.
For regular people, better regulation could mean safer crypto markets. Clear rules protect investors while allowing new ideas to grow.
As digital money becomes more common, the rules that govern it matter more than ever. Coinbase’s proposal might shape how we use and think about money in the future.
The conflict between innovation and regulation isn’t new. But in the fast-moving world of crypto, finding the right approach is urgent.
Will regulators take up Coinbase’s invitation to learn by doing? The answer could reshape the future of digital finance in America and beyond.
