Coinbase Urges US Congress to Establish Clear Crypto Regulations for Industry Growth

On Wednesday, Coinbase's Chief Policy Officer, Faryar Shirzad, called on US lawmakers to establish a clear regulatory framework for the crypto industry. In a blog post, Shirzad outlined six key priorities for Congress to protect users and foster innovation. He emphasized the need to define digital assets, grant the CFTC spot market authority over Bitcoin and Ethereum, and direct the SEC to allow responsible fundraising for blockchain projects. He also stressed the importance of establishing a stablecoin framework, protecting DeFi and digital commerce, and ensuring clarity for centralized crypto entities. This appeal comes amid Coinbase's ongoing efforts to seek regulatory clarity in the US, including a recent letter to regulators asking for confirmation on whether banks can offer services to crypto businesses.