CEX.IOmostTrusted2
Web 3

Truly Artful! Coinbase Uses Foreign Regulatory Guidelines To Throw Shade at the SEC

TL;DR

  • Back in April, Coinbase landed a regulatory license in Bermuda, and now (as of yesterday) it’s been granted a key license in Singapore.

  • Neither of these licenses give Coinbase much leverage or wiggle room in its US operations, it’s more an excuse for Coinbase spokespeople to say things like: “By providing this level of regulatory clarity and by providing clear rules that the industry has to play by, that’s really important for us as we’re thinking about our international strategy.”

  • Translation: “Hey America, you’re missing out on a bunch of economic development here! We’re not asking for special treatment – just clear rules to play by.”

Full Story

You know that card you used to play as a kid, when you were in a fight with your parents?

You’d walk past the living room pretending to take a phone call on your left shoe, talking just a little too loud:

“Yeah, I’m thinking of moving out. Might go to Timmy’s place, his mom lets him play Nintendo on school nights…either that or I’ll crash in the Chuck E. Cheese ball pit.”

(No? Not ringing any bells? Just us then. Weird.)

Well, Coinbase is using a similar tactic in its battle with the US government.

Back in April, the company landed a regulatory license in Bermuda, and now (as of yesterday) it’s been granted a key license in Singapore.

Neither of these licenses give Coinbase much leverage or wiggle room in its US operations, it’s more an excuse for Coinbase spokespeople to say things like:

“Our experience in Singapore in some ways contrasts what’s going on in the U.S.

By providing this level of regulatory clarity and by providing clear rules that the industry has to play by, that’s really important for us as we’re thinking about our international strategy.”

Translation: “Hey America, you’re missing out on a bunch of economic development here! We’re not asking for special treatment – just clear rules to play by.”

See also  The SEC Still Wants $2B From Ripple (And Next up Is Ethereum)

And sure, this kind of threat tactic never worked for us as kids…but it might for Coinbase.

Because while Chevy’s mom’s opinion on what he said to make his second grade teacher cry (and the appropriate punishment) isn’t likely to change…

Governments, congressional majorities, and societies are!

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button