Countries from around the world are increasingly moving forward with responsible crypto forward regulatory frameworks so as to strategically position themselves as crypto hubs:
In the United Kingdom, current Prime Minister Rishi Sunak has previously stated his desire to . Last month, Financial Services Minister Andrew Griffith reiterated the “” presented by crypto and accelerated plans to build a comprehensive regulatory framework for the industry.
(MiCA) ground-breaking regulation is scheduled to enter into force in the coming weeks. Already, EU member countries like Germany have become centers of crypto and blockchain activity with and following the German capital’s lead.
The Central Bank of Brazil payment system to encourage banks to hold digital assets. In November of 2022, Central Bank Governor Campos Neto intends to make the communications protocols behind Pix open sourced “so that all central banks that wish to can copy [them], for free.”
In the UAE, building off the strong regulatory momentum for crypto in Abu Dhabi, earlier this month Dubai designed to provide a licensing framework for digital assets. Dubai is seeking to be a global hub for crypto and blockchain. indicate that Dubai's Virtual Assets Regulatory Authority (VARA) has been actively attracting crypto projects and global talent.
In North America, Canada introduced a pre-registration undertaking (PRU) to establish a consistent and balanced regulatory framework. The federal government also launched targeted consultations on crypto-assets as part of the .
This overview of activity from around the world speaks to how governments are moving quickly to bring crypto into their individual regulatory perimeters so as to strategically support efforts to position their countries as crypto hubs - attracting new companies, jobs and revenue.
In response to this fast moving regulatory activity in leading countries around the world, over the next eight weeks Coinbase will rapidly accelerate operationalizing its “” international strategy by rolling out a number of new initiatives in countries outside the US spanning across six continents: South America, , Africa/Middle East, Asia, Australia, and North America.
The new initiatives over the next eight weeks will include:
Launching new products and services, including bespoke projects, to enter or strengthen our presence across a wide-range of international markets.
Announcing specific partnerships with key financial sector, tech and telco partners.
Engaging with leading government officials and regulators to help advance their plans to support and regulate crypto.
Coinbase co-founder and discussing the need for the US to lead when it comes to crypto. Brian chose to build the company in the US because of the belief that America should be at the forefront of the effort to update our financial system and make it faster, more efficient and easier. To advance this work and drive long-term growth, Coinbase is building the most trusted services and products to make our financial system faster, more efficient and easier, including industry leading initiatives to support know your customer rules, anti-money laundering laws and consumer protection tools. Coinbase believes the crypto sector and the US government should be working as allies to reform our financial system, including providing the kind of clarity and certainty governments around the world are doing.
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