• Coinbase has been in talks with institutional investors to create an overseas cryptocurrency exchange.
• Recent regulatory actions in the US have caused a turnaround in sentiment for the advancement of bitcoin and cryptocurrency industry.
• The US government is paying close attention to the development of digital assets, with potential implementation and adoption of CBDCs (Central Bank Digital Currencies).
Coinbase Talks With Institutional Investors
Coinbase has reportedly been in talks with institutional investors about opening up an overseas cryptocurrency exchange. According to sources cited by Bloomberg, “talks with market makers and investment firms touched on the possibility of establishing an alternative venue — away from the main Coinbase marketplace — for global clients.” The sources continued to explain that the company has not yet decided the location the platform might base itself out of.
Turnaround in Sentiment Regarding Cryptocurrency
Recent regulatory actions have led to a turnaround in sentiment in regards to the advancement of the bitcoin and cryptocurrency industry in the United States. Major exchanges have faced regulatory headaches, with Kraken settling for $30 million in fines in an SEC lawsuit, and Coinbase owing $100 million to the state of New York after regulators alleged Coinbase “violated anti-money-laundering laws by allowing users to open accounts without conducting sufficient background checks.”
US Government Monitoring Development Of Digital Assets
In addition, the current administration has been paying close attention to the development of digital assets in the U.S., with the White House releasing a “Roadmap to Mitigate Cryptocurrencies’ Risks,” in January 2023. On top of that,the U.S. Treasury has begun its research on how it can potentially implement or adopt a CBDC, which may take form of a privatized currency (like a stablecoin), or, more likely, an adaption of current system, form FedNow.
Varying Opinions On Best Path Forward For US Monetary Decisions
The path that American federal government continually demonstrates it wants take is that regulated government currency either dollar or similar not bitcoin . But state governments have shown their support for sovereign usage bitcoin including Arizona Wyoming . Demonstrates there are varying opinions best path forward US monetary decisions . Serious attention however should paid current cracks showing US banking system what could mean future . Building top money built retain value versus debased money results credit expansion cycles impacts banking system pertinent prosperous future .
Coinbase’s possible move into creating an overseas crypto exchange combined with recent regulations regarding cryptocurrencies creates a complex situation – one where differing opinions make it difficult to predict what will happen next when it comes to digital asset regulation within USA borders as well as globally.