Coinspeaker
Coinbase CEO Shares Ideas on Crypto Regulation
Coinbase CEO Brian Armstrong has laid out his ideas for better crypto regulations if the industry is to move forward. Armstrong believes there is a need for regulatory clarity in the wake of the FTX collapse and the aftermath on the industry.
Considering that centralized actors like stablecoin issuers, exchanges, and custodians have caused the most harm to consumers, Armstrong believes regulation should also begin there.
Contrarily, he noted that decentralized actors like DAOs and DeFi already offer, some form of protection because of their transparent systems and pen-source code. Armstrong believes they should be largely left alone.
Regulating Stablecoins
The global market for stablecoins increased by 30-folds from 2020 to mid-2022, reaching $161 billion. According to the Bank of Canada, “These crypto assets could bring efficiencies and greater competition to payment services, especially in a more digitalized economy. “
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