XRP And Coinbase Demand Friendly Regulatory Framework

A newly formed working group, led by senior employees of XRP and Coinbase is going to counsel United States regulators on crypto-friendly policies. However, congresspeople are entangled in the preparations for the upcoming elections, which means that cryptocurrency companies based in the United States will have to adapt through the regulations of every state in the near future as per the latest coinbase news xrp.

The Market Integrity Working Group of the Blockchain Association was launched on January 23^rd. Breanne Madigan and Rachel Nelson the co-chairs of the Group, are Wall Street veterans, the first worked at Goldman Sachs for 15 years, the second worked for five years at J.P. Morgan. On the question of the structure of the Group that we have in the coinbase news xrp, the communications advisor of the Blockchain Association, Graham Newhall commented:

“It is just that, a working group, under the umbrella of the Blockchain Association.”

He added:

“It is one of several such groups we’ve commissioned to work on specific issues relevant to the crypto economy.”

The advocacy group has launched a multitude of working groups on proof-of-stake networks (that are also co-chaired by Rachel Nelson), stablecoins, security laws, custody, and other topics that are related to the cryptocurrency industry. Working groups “are simply a vehicle to maximize the expertise of Association member companies,” Newhall said, adding:

“They do not represent a separate entity, lobbying on its own behalf, rather we task expert members to study particular problems facing the crypto industry and potential regulations. The findings of these groups inform our conversations with regulators and lawmakers.”

As Newhall elaborated even further, the co-heads of the Market Integrity Working Group were “chosen in discussion with Association members, pertaining to those individuals and companies that have a particular interest or expertise on a chosen subject.” The Blockchain Association has 22 member organizations, including Circle, Kraken, Ripple, Coinbase and 0x, among other U.S. cryptocurrency companies.

Especially, the organization highlights the “labyrinthine patchwork of state-by-state” regulations in the United States as the biggest obstacle for crypto businesses that have the ultimate result, “significant barriers to entry for new exchanges” and “a complicated compliance burden for existing exchange.” Market Integrity Working Group says:

“Consumers and cryptocurrency exchanges deserve a clear regulatory framework, the establishment of which would ultimately enhance market integrity and drive consumer adoption of cryptocurrencies.”