January 29, 2020 by Victor
Two leaders of Coinbase and Ripple have unveiled guidelines to support the global promotion of the crypto-currencies in the United States. It is a strategy that consists mainly in regulating the most rapidly changing sector.
Improve the transparency of the crypto-industry
In a joint publication, Rachel Nelson, a lawyer associated with the use of Coinbase and Breanne Madigan, the head of the institutional markets of Ripple, have stressed the urgent need to regulate in a healthy crypto-american industry. The creation of a regulatory framework would help to legitimize this sector which is still very little known by the general public, has supported the two entrepreneurs.
“To improve the integrity of the market and give consumers the confidence they deserve, the Congress may need to enact legislation to support the orderly functioning and secure market for the crypto-currency,” they argued.
An appropriate regulation could further legitimize the digital assets in the financial world traditional. Apart from the implementation of a crypto-specific legislation, Rachel Nelson and Breanne Madigan call for increased monitoring of the sites of exchange in crypto-currencies by the u.s. financial authorities, including the Commodity Future Trading Coming (CFTC).
A dedicated working group
Rachel Nelson and Breanne Madigan are the two co-chairs of a new working group initiated by the Blockchain Association, a lobby that defends the interests of the crypto-industry. The objective of the new working group is to ensure ” the transparency and fairness of the markets of the crypto-industry “, according to the announcement of the foundation.
This group will work to support the political actions that ensure transparency and fairness in the industry of crypto-currencies. This strategy essentially aims to get rid of market manipulation (including “wash trading”), which constitute a major obstacle to the “crypto-adoption” american.
What do you think of the support of Ripple and Coinbase for the crypto industry in the united states? Respond in the comment section below.
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