Faryar Shirzad, chief policy officer at Coinbase, has criticized the United States for its slow progress in regulating cryptocurrencies.
Major Economies Embrace Crypto Regulation
According to Shirzad, most members of the Group of Twenty (G20) are moving towards clear regulatory frameworks for crypto. These countries include the EU, UK, Hong Kong, Australia, Singapore, Brazil, and Canada.
US Falls Behind
In contrast, Shirzad says the US has been an “outlier” in this area. He believes the US needs to accelerate its efforts to regulate both stablecoins and the broader crypto market.
Consumer Protection and Industry Growth
Shirzad argues that clear regulation will protect consumers and allow the crypto industry in the US to grow and develop. He emphasizes that the US must act quickly to avoid falling further behind other major economies.
