Coinbase urges U.S. lawmakers to bring clear stablecoin regulation as ‘cash is outdated’
The U.S.-based crypto exchange Coinbase is doubling down on its efforts to bring more regulatory clarity for stablecoins. In a blog post on Monday, Dec. 4, 2023 the San Francisco-headquartered crypto exchange noted younger adults feel the “everyday pain points of dealing with the current financial system,” saying stablecoins offer consumers “all the benefits of cash without the drawbacks.” Coinbase being a stakeholder in Circle, the issuer of the USDC stablecoin , claims that physical cash “no longer meets the needs and expectations of today’s digitally savvy consumers” as interbank transfers can take days, while its crypto-alternatives are way cheaper and faster to move. Stablecoin popularity in Nigeria, Brazil and Argentina | Source: Coinbase Yet, regulatory hurdles still keep the U.S. from becoming a “crypto hub,” while Nigeria and Brazil are proving to be “pivotal in encouraging the adoption of stablecoin s and cry...