Coinbase chief policy officer says the US is an outlier as major economies adopt clear crypto regulatory frameworks.
A Coinbase executive said the U.S. is lagging behind other major countries in adopting clearer regulations for cryptocurrencies.
In a new interview with Yahoo Finance, Faryar Shirzad, chief policy officer of a leading U.S. cryptocurrency exchange, said the majority of G20 members are far ahead of the United States in helping the cryptocurrency industry thrive.
G20 countries account for approximately 85% of the world’s gross domestic product (GDP) and 75% of international trade.
Shirzad says:
“Unfortunately, the United States has been an exception. Most of the G20, over 80% of the G20 and major market economies, are moving very aggressively to adopt a very clear regulatory framework for cryptocurrencies.
Therefore, most financial centers and most major economies, the EU, UK, Hong Kong, Australia, Singapore, Brazil and now Canada. So the rest of the world is accepting, adopting, and integrating tokenization into the financial system with a view to meeting the interests of consumers.
And in the United States, it’s happening at a slightly slower pace. And I think that’s our main headline message: that the United States needs to push for both stablecoin regulation as well as regulation of the broader market structure. And I think this will allow America’s industry to grow and develop and ensure that consumers have the protection they deserve.”
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Coinbase’s chief policy officer said the US is an outlier as major economies adopt a clear cryptocurrency regulatory framework. First appeared in The Daily Hodl.
