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Cryptopolitan 2021-09-23 20:51:23

Coinbase exchange set to propose regulatory framework for US authorities

TL;DR Breakdown Coinbase exchange to propose regulatory framework for US authorities next month.This is after SEC threatened to sue Coinbase.Coinbase rolls out vacancy to employ legal advisers to improve relationship with regulators. Coinbase exchange has said it wants to collaborate with US authorities and sketch out a “sensible regulation” for the crypto industry in the US. Brian Armstrong, Coinbase CEO, said this during a recent interview with TechCrunch, noting that Coinbase exchanges wants to be an advisor and a helpful advocate for how the US can create that sensible regulation. This comes days after reports emerged that the US Security and Exchange Commission (SEC) is set to sue the company over crypto yield program, which the regulators consider a security. Coinbase exchange quietly went back on its plan to release the product after announcing the threat it received from the regulators. In a separate development, the exchange website posted over 350 job openings, including legal and compliance job profiles, to restore its relations with the regulators. The move appears to be in line with Coinbase’s intentions of being the regulator’s advocate. Vacancies for Legal and compliance team, “head of APAC compliance” in Singapore, “head of international compliance” in London, and “global anti-bribery and corruption managers” in the UK and US were dolled out. Why Coin...

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