03-23-2023 icon

The United States has opened a void that diverse nations are enthusiastic about filling: Coinbase

By Lucy Adegbe

As the United States executives choose management by imposition, other nations of the world are nurturing dynamic digital currency systems in response to developing leadership, Coinbase’s Daniel Seifert contends.

As Coinbase appears to be close to the point of a legal clash with the US Securities and Exchange Agency, the trading protocol has buttressed that the US executives’ aggressive strategy for digital currency management has created a void that other nations are willing to fill.

The Securities and Exchange Commission sent Coinbase an imposition action notice, on the 22nd of March, noting that the commission’s team had suggested that the agency commenced imposition actions against probable breaching of securities ruling of some of Coinbase’s assets and services.

According to a Thursday publication tagged, “Europe is winning. Will the US catch up?” Coinbase deputy chairman and provincial manager in the European region, Daniel Seifert, emphasized that the US strategy to digital currency is tagged as management by imposition notwithstanding industry calls for thorough digital currency ruling.

He added that this strategy has brought about an environment filled with tension and fluctuation in the digital currency ecosystem.

Seifert underlined that the United States is ripping itself off the title as the top hub for the digital currency space as other regions like France and the United Kingdom are working towards creating an active environment with a friendlier strategy for digital currency control. 

Seifert noted that Coinbase is confidently an American firm, buttressing that it is tough witnessing the US misuse the opportunity granted to it as many other nations are willing to fill the void the US has created.