• Coinbase has reportedly been in talks with institutional investors about opening up an overseas cryptocurrency exchange.
• Recent regulatory actions have led to a turnaround in sentiment for the advancement of the bitcoin and cryptocurrency industry in the US.
• The U.S. Treasury has begun its research on how it can potentially implement or adopt a CBDC, which may take the form of a privatized currency (like a stablecoin), or, more likely, an adaption of the current system, in the form of FedNow.
Coinbase Talks About Overseas Exchange
Coinbase has reportedly been in talks with institutional investors about opening up an overseas cryptocurrency exchange. According to sources cited by Bloomberg, “talks with market makers and investment firms touched on the possibility of establishing an alternative venue — away from the main Coinbase marketplace — for global clients.” The sources continued to explain that the company has not yet decided what location this platform might be based out of.
Recent Regulatory Actions
Recent regulatory actions have led to a turnaround in sentiment regarding the advancement of Bitcoin and crypto industry within the United States. Major exchanges such as Kraken have settled for $30 million fines due to SEC lawsuit; Coinbase was also required to pay $100 million to New York regulators after they alleged Coinbase “violated anti-money-laundering laws by allowing users to open accounts without conducting sufficient background checks” The current administration has also been paying close attention towards digital assets in America, prompting them to release their ‘Roadmap To Mitigate Cryptocurrencies’ Risks’ back in January 2023.
US Treasury Research
The US Treasury has begun its research into how it could potentially adopt or implement a Central Bank Digital Currency (CBDC). This could take many forms such as private currencies (stablecoins) or adapting existing systems like FedNow. It is clear that there are varying opinions on what would be best path forward for monetary decisions made within America; however serious attention should be paid towards potential cracks appearing within US banking system and their impact on future prosperity.
State Governments Support For Bitcoin
State governments such as Arizona and Wyoming have shown their support for sovereign usage of Bitcoin demonstrating there are different views when it comes down monetary decision making within America. Currently state government favor regulated government currency which is either dollar or similar rather than Bitcoin being adopted as official currency .
Conclusion
This article focused on recent talks between Coinbase and institutional investors about opening up an overseas cryptocurrency exchange, as well as exploring recent regulatory actions taken against major exchanges such as Kraken and Coinbase regarding anti-money laundering laws violation . Finally it explored insight from US treasury regarding how they see implementing or adopting Central Bank Digital Currency (CBDC) and state governments support for sovereign usage of Bitcoin .