Coinbase COO confirms company will roll out crypto regulation proposals

By September 23, 2021DeFi
Click here to view original web page at finance.yahoo.com
NEW YORK, NY - APRIL 14: Monitors display Coinbase signage during the company's initial public offering (IPO) at the Nasdaq market site April 14, 2021 in New York City. Coinbase Global Inc. is the largest U.S. cryptocurrency exchange, debuting today through a rare direct listing.  (Photo by Robert Nickelsberg/Getty Images)
Monitors display Coinbase signage during the company's initial public offering (IPO) at the Nasdaq market site April 14, 2021 in New York City. Coinbase Global Inc. is the largest U.S. cryptocurrency exchange, debuting today through a rare direct listing. (Photo by Robert Nickelsberg/Getty Images)

Coinbase's (COIN) top executives confirmed it plans to publish a regulatory framework for policy makers in the U.S. in the coming weeks. Speaking at a DeFi-focused Mainnet conference, Coinbase President and Chief Operating Officer Emilie Choi broadly addressed the company's current position on crypto regulation.

The announcement comes two weeks after Coinbase CEO Brian Armstrong voiced objections on Twitter to the Securities and Exchange Commission's moves against the company.

"We should all care about transparency and clarity. The reason we went out with that tweet storm is because we didn't feel like there was transparency and clarity to the way things were being regulated," said Choi.

"We are regulated by more than 50 different regulators and we can handle it, if we're struggling with this what is your audience going to do," said Choi referring to other cryptocurrency companies in attendance of the conference.

"We just want to make sure there's an even playing field for crypto companies," said Choi referring to how crypto services are regulated differently than traditional financial services.

The interview follows a day after rumors circulated over Twitter saying that Coinbase wasn't done opposing the SEC's move to block its crypto lending product, Coinbase Lend. A Coinbase representative told Yahoo Finance this week that those rumors weren't accurate.

"We do have regulatory proposals we will be publishing in the coming weeks. They will focus on what the future of crypto regulation should look like," said the spokesperson.

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