Coinbase Submits Feedback To Treasury: Calls For Strict Compliance With GENIU...
American bankers are urging the US Treasury Department to enforce the prohibition on interest for payment stablecoins in the GENIUS Act. In response, cryptocurrency exchange Coinbase, has called on the Treasury to ensure that the forthcoming regulations align with Congress’s original intentions regarding the act. Coinbase Pushes Back On GENIUS Act’s Interest Restrictions According to […]
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The U.K. government is focusing on stablecoins for the next phase of its development of crypto regulations.
Coinbase CEO Brian Armstrong argues that privacy advocates could gain the most from compliance since it will make them rich. But could non-compliance be even more lucrative for Bitcoin? Compliance Will Make Who Rich? Armstrong defines compliance as “working with regulators, law enforcement, banks, etc.” and touts the fact that as much as 20% of Coinbase....
The largest bank in Japan, Bank of Tokyo-Mitsubishi UFJ (BTMU), has formed a strategic partnership with Coinbase to support the exchange’s long-term international expansion efforts. Some users complain about the exchange’s too strict compliance. MUFG senior manager Yuichiro Kawasaki cited the reasons behind Coinbase’s ‘strong compliance systems was to prevent wrongdoing. Another factor in play has been the Coinbase’s licenses to offer money transmission services in many U.S. states. As a part of the compliance procedures, now the exchange asks users if they are sending their coins to....
While the BitLicense has caused many companies to leave New York, those that intend to stay are progressing though the regulatory process. This week, one of the world's largest Bitcoin services and wallet providers Coinbase became the 25thcompany to file for a BitLicense, which is expected to cost more than $100,000 in legal and compliance fees, according to Bitstamp Executive Vice President and chief legal officer George Frost. Since February, Coinbase has continued to work with the New York Department of Financial Services (NYDFS) to improve the regulations and restrictions set on....
Melissa Strait will take charge of Coinbase's compliance initiatives ahead of its planned public listing.