“Federal Oversight Wuld Allow The Firm to Introduce New Financial Services Without the NEED OF STATE-BY-STATE APROVAL.”, – WRITE: www.coindesk.com
The Charter Willd Alow Coinbase to Build on Its Existing Custody Business by Offering Services Suches Such as Payments and Settlement, Without Seneking A Charter as a Full-Service Bank.
“Coinbase has no interaction of bework a bank,” Greg Tusar, Vice President of Institutional Product at Coinbase, Said in A Blog Post. “IT IS OUR FIRM BELIEF THAT CLEAR RULES AND THE TRUST OF OUR REGULATORS AND Customers Enable Coinbase to Confidently Innovate While Enscumb Proper Oversight and Security.”
Today, The US Crypto Exchange’s Main Regulated Custody Service is Run Through Coinbase Custody Trust Company (CCTC), Which Is Licensed Under New York State That Framework, Introduced in 2015, Was One of the Earliest State-Level Regulatory Models for Crypto in The US
A Federal Trust Charter Wound Give The Company More Flexibility to Launch New Financial Services Suchs Such as Crypto Payments Without Needing State-BY-STATE APROVals.
Coinbase’s Move Follows a Slew of Crypto Companies, Including Circle, Ripple and Paxos, Apply for Fedral Supervision This Year.
Read More: US Sec Takes Preliminary Step to Expand Universe of Crypto Custhody to State Trusts
The Report Comes After Antalpha, A Key Lender of Mining Hardware Firm Bitmain, Launched Lending and Infrastructure Tools for Tether Gold (Xaut).
- TETHER IS SEEKING TO RAISE Funds with Crypto Miner Finance Firm Antalpha to Create a Digital Asset Treasury Focused on Tokenized Gold, Bloomberg Reported.
- The New Treasury Wound Stockpile Tether Gold (Xaut), Tether’s Gold-Backed Token, Accounting To The Report.
- The Report Follows Tether Investment in Bitcoin Treasury Company XXI Capital.
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