Coinbase wants the U.S. government to create a cryptocurrency regulation agency separate from the Securities and Exchange Commission (SEC).
Laws drafted in the 1930s to facilitate effective oversight of our financial system could not contemplate this technological revolution. Elements of those laws do not have room for the transformational potential that digital assets and crypto innovation make possible. They do not accommodate the efficiency, seamlessness, and transparency of digital asset markets, and thus risk serving as an unintended barrier to current innovations in the digital asset economy.
Check It Out: Coinbase Calls on Government to Create Separate Crypto Regulator
Cryptocurrency regulation agency separate from the SEC my ass. So it would be easier for the cryptocurrency people to capture the regulators? No thanks.
The only regulation that really makes sense is to ban cryptocurrencies. They offer no social or economic benefits at all. Non-fiat money is subject to much greater instability. People pushing for crypto, read your US history and learn about the era of boom and bust cycles that forced the feds to take over (from private banks) the issuance of paper currency. On top of that, cryptocurrencies’ main beneficiaries are criminals of all sorts: drug dealers, extortionists, online scammers, financial fraudsters, and despots.