According to Coinbase The United States has created a void that other nations are keen to fill
While the U.S. government opts for “regulation by enforcement,” other nations with progressive legislation are nurturing “vibrant” crypto ecosystems, claims Coinbase’s Daniel Seifert.
The SEC sent a Wells notice to Coinbase on March 22, informing the company that SEC staff had recommended the agency initiate enforcement action for “possible violations of securities laws” involving the company’s asset listings, staking services, and Coinbase Wallet.
In a blog post titled “Europe Is Winning,” published on March 23, it was stated: “Europe is winning.” Will America catch up? Coinbase’s vice president and regional managing director in Europe, Daniel Seifert, recently said that despite widespread requests for “comprehensive crypto regulation,” the United States has taken “a regulatory approach to crypto marked by regulation by enforcement.”
As a result, Seifert suggested that the United States is losing its position as the primary center of the cryptocurrency industry, while France, the United Kingdom, and the European Union are constructing “vibrant” ecosystems owing to their more accommodating crypto laws.
“The United States has created a void that other nations are eager to fill,” he stated, adding, “we are proud to be an American company.” It is difficult to witness the United States waste the chance it has been given.”
Seifert emphasized the relevance of the Paris Blockchain Week presented by the Louvre this month. In addition, he mentioned the United Kingdom’s current attempt to become a crypto center, as well as the European Union’s Markets in Crypto-Assets (MiCA) law, which is scheduled to take effect in 2024.