Coinbase pushes the congress to adopt legislation which gives regulatory clarity to the cryptocurrency industry, arguing that inaction makes consumers vulnerable and stimulates innovation abroad.
In a two -page statement, Coinbase policy director Faryar Shirzad stressed the urgent need for a manager that promotes responsible innovation while protecting investors.
Shirzad stressed that blockchain technology and digital assets offer economic opportunities, financial inclusion and innovation. However, without clear rules, developers are faced with uncertainty and consumers lack the appropriate protection.
“Blockchain and digital assets are not only technological progress; They open doors to financial freedom, innovation and economic empowerment, ”wrote Shirzad.
He warned that the United States is at risk of losing its leadership in blockchain technology while businesses are looking for more user-friendly regulatory environments.
Key legislative priorities
Shirzad has described several key priorities for legislation to establish a balanced regulatory framework for digital assets. First and foremost, there is a need for clear definitions that differentiate between titles, basic products and other types of tokens. This clarity is essential to provide certainty to investors and developers in the rapidly evolving digital landscape.
In addition, there is a strong support for granting the supervision of the Commodity Futures Trading Commission on the Cryptographic Points Market, in particular for the main digital assets classified as raw materials.
The Securities and Exchange Commission should also establish final directives which allow blockchain projects to raise capital without categorizing each token as security. With regard to stablecoins, regulations should ensure transparency, full support and surveillance that promote competition and innovation while preserving consumer confidence, Shirzad wrote.
Consumer protections and emergency in the action of Congress
According to Shirzad, effective legislation must be simple and accessible while integrating existing financial regulations. He argued that legislators should encourage innovation by providing clear ways to developers to build decentralized systems without unnecessary restrictions.
At the same time, centralized exchanges and guards must be held to high transparency and safety standards to protect consumers.
Shirzad also stressed that consumer protection does not mean excessive depression. Excessive restrictions could lead to the development of offshore blockchain, weaken the American economy and limit consumers’ access to cryptographic markets. Instead, Shirzad calls for a framework that protects investors while allowing DEFI and other innovations to prosper.
Shirzad warned that without rapid action, the United States will continue to late in the world blockchain race. Developers and companies will turn to other jurisdictions with clearer policies, and consumers will remain exposed to systemic fraud and failures.
Adopting complete cryptocurrency legislation, supported Shirzad, will protect consumers, encourage responsible innovation and position the United States as a leader in the digital economy.
