Cryptocurrency exchange Coinbase supports regulation of bitcoin and ethereum by the US government

Kara Calvert, head of policy at Coinbase, a cryptocurrency exchange in the United States, said that the exchange supports two bills in Congress that would allow the CFTC (Commodity Futures Trading Commission) to take control of cryptocurrency regulation, including bitcoin and ethereum. «We support efforts in the House and Senate that would give greater authority to the CFTC,» Calvert said. Having spot authority would mean that the CFTC monitors cryptocurrency trading on exchanges in real time — for example, when someone buys bitcoin for US dollars or exchanges Ethereum for a token on Coinbase or FTX.

At the end of September, CFTC Chairman Rostin Bennam said that the cryptocurrency market, including bitcoin, will have prospects for growth only if there is a regulatory structure. «Growth can happen if there is a well-regulated space. Bitcoin will double in value if the market is controlled by the CFTC,» Benham emphasized. In early September, the chairman of the Commodity Futures Trading Commission said that the agency is ready to take on the role of regulating cryptocurrencies if it receives sufficient authority to do so.

In November, the US will hold elections to the House of Representatives in each of the country’s 50 states. For this event, the American cryptocurrency exchange Coinbase has launched two projects: a voter registration tool and an educational initiative on cryptocurrency policy. «The leaders we elect in November will make key decisions on how cryptocurrencies, blockchain, and Web3 will be regulated. Our customers want to be heard, so it’s our duty to help them do so,» Coinbase CEO Faryar Shirzad wrote in his blog.