Coinbase CEO: Supervision should start with stablecoin issuers, etc., and enforce the law on companies that serve their own citizens

Coinbase CEO Brian Armstrong issued an article "Regulating Crypto: How we move forward as an industry from here" (Regulating Crypto: How we move forward as an industry from here), which outlines a blueprint for cryptocurrency regulatory policies from the perspective of US regulation , and advocate for greater clarity in crypto regulation. The article mentions that legislation should start with centralized players (stablecoin issuers, trading platforms, and custodians), as this is where the greatest risk of harm to consumers lies, and regulation should focus on the need for additional transparency and disclosure Agency. Furthermore, he suggested that in order to achieve a level playing field, countries enacting laws for cryptocurrency companies should enforce the laws not only domestically, but also against foreign companies serving their own citizens. Brian Armstrong also said, “With greater clarity on the regulation of centralized players, a level playing field, and decentralized cryptocurrency innovations continuing to develop, cryptocurrencies can bring enormous benefits to the world. And now, attention Distracted from the harm done by bad actors, we all need to take responsibility for improving the situation. I am optimistic that we can make significant progress on the above in 2023 and get cryptocurrency legislation passed.”