Regulator, Crypto, and Coinbase: Navigating Changes in Banking Integration
by aria-crypto.com
February 5, 2025 at 05:08
Regulator, Crypto, and Coinbase: Navigating Changes in Banking Integration
Coinbase is actively encouraging U.S. regulators to overhaul their approach to banking services for the cryptocurrency sector. On Tuesday, the prominent exchange submitted a letter to banking officials urging the clarification of guidelines that restrict banks from offering crypto-related services such as custody and execution. The exchange argues that these outdated regulations hinder the integration of digital assets with traditional financial systems, which would otherwise enhance market liquidity and consumer access. Coinbase's plea highlights the inconsistent and opaque guidance currently issued by regulators, leaving banks and crypto service providers in a state of uncertainty. Experts from three leading law firms support Coinbase's stance, indicating that the restrictions are not only outdated but also illegally imposed, relying on misinterpreted regulations rather than clear legislative mandates. Through its advocacy, Coinbase aims to foster a more resilient and innovative financial environment that benefits all stakeholders in the American economy. This initiative is crucial as the exchange continues to face significant scrutiny and legal hurdles, reinforcing the need for clearer and more stable regulatory frameworks to support the evolving landscape of digital finance.
Most Read
No articles to show at the moment
Read more
>> SEC's New Crypto Task Force Targets Regulatory Clarity and Innovation
The U.S. Securities and Exchange Commission (SEC), under the guidance of Commissioner Hester Peirce, has initiated a significant pivot in crypto regulation with the formation of a new Crypto Task Force. Known a...
2 hours ago
>> SUI Faces Potential Collapse Amid Historical Patterns, Solana Analyst Warns
Cryptocurrency expert Jason Pizzino has issued a warning about SUI, a competitor to Solana, predicting a possible severe price correction. Pizzino shared his analysis with his 345,000 YouTube followers, highlig...
5 hours ago
>> US Lawmakers Form Strategic Group to Bolster Crypto Regulation and Leadership
In a groundbreaking move, U.S. Senate and House lawmakers have convened to establish a comprehensive regulatory framework dedicated to digital assets. The bipartisan effort led by key Senate and House Committee...
>> CFTC Takes Aim at Crypto.com and Kalshi Over Sports Crypto Bets
The Commodity Futures Trading Commission (CFTC) is currently investigating Crypto.com and Kalshi to determine if their Super Bowl event contracts fall under "gaming" according to existing commodities regulation...
>> Paxos Expands in the EU with New Electronic Money License
Paxos has recently secured an Electronic Money Institution license within the European Union, marking a significant step in its expansion efforts. The license will enable Paxos to offer fully compliant stableco...
>> Bitcoin Makes Waves on Nasdaq as Semler Scientific Bolsters Its Holdings
Semler Scientific (SMLR), a Nasdaq-listed company, has made significant headlines with its recent acquisition of 871 Bitcoin, tallying an $88.5 million investment between January 11 and February 3. The company...
12 hours ago
>> UAE and Shiba Inu Collaborate to Boost Web3 Initiatives
The UAE Government has teamed up with the cryptocurrency Shiba Inu to advance WEB3 technologies in the region. This partnership aims to leverage the unique attributes of Shiba Inu in fostering a more dynamic an...
12 hours ago
>> Kraken Secures Key EU License, Bolsters Crypto Derivative Offerings in Europe
Leading cryptocurrency exchange Kraken has successfully obtained a Markets in Financial Instruments Directive (MiFID) license through the acquisition of a Cypriot investment firm. This milestone allows Kraken t...
>> US Bitcoin Ambitions: States Lead the Charge as National Reserve Talks Continue
States across the U.S. are increasingly embracing Bitcoin, transcending discussions at the national level about the formation of a Strategic Bitcoin Reserve, which remains a concept championed by Senator Cynthi...
17 hours ago
All the latest crypto news in one place
Stay informed and up-to-date on the market's latest news with our Terminal's News Aggregator with curated news articles and analysis from over 50 sources, including the crypto's biggest publications.
Launch Terminal
