Coinbase Proposes US Create New Regulator to Oversee Crypto


Crypto exchange Coinbase wants the U.S. government to create a new regulator to oversee the cryptocurrency industry.

Unveiled Thursday, Coinbase’s Digital Asset Policy Proposal suggests Congress pass legislation to regulate Marketplaces for Digital Assets (MDAs) – its term for crypto exchanges that offer custody and trading services, as well as borrowing and lending services – and create a registration process for those entities. The exchange also proposed that the crypto industry establish a self-regulatory organization for crypto businesses.