Coinbase CLO Feedback on UK’s Rishi Sunak’s Crypto Stance

• Coinbase CLO Paul Grewal feedback on UK Prime Minister Rishi Sunak’s stance on crypto.
• UK Prime Minister Rishi Sunak said that UK should embrace web3 and blockchain.
• Grewal said that the US goes to accept the ‘Carry Again Crypto Act of 2050.’

UK prime minister Rishi Sunak lately said on a16z’s enlargement to the UK that the nation ought to embrace improvements like Web3 and blockchain expertise. Sunak’s assertion attracted the eye of Coinbase chief authorized officer Paul Grewal. Grewal sarcastically said in certainly one of his latest tweets that the US is more likely to accept the ‘Carry Again Crypto Act of 2050.’

Whereas such an act doesn’t exist, Grewal talked about in a sarcastic manner that whereas different nations embrace Web3 and blockchain expertise, the US will fall behind and advocate for bringing again crypto in 2050. His assertion comes at a time when the US regulator, the SEC, has filed a lawsuit towards Coinbase and Binance.

The assertion from Grewal additionally caught the eye of crypto lawyer John E. Deaton. He said in his tweet that the nation wants candidates in 2024 who assist American innovation.

US regulators have been taking a more durable stance on cryptocurrencies in latest months. In February 2023, the Securities and Change Fee (SEC) sued Binance, the world’s largest cryptocurrency trade, for working an unlicensed securities trade. The regulators have been going on the giant cryptocurrency gamers one after the other. Within the latest lawsuit, the SEC additionally branded a number of cryptocurrencies as securities.

These actions have led some to consider that US regulators try to deliver down the crypto trade. Nevertheless, regulators have stated that they’re merely attempting to guard buyers and be sure that the crypto market is honest and orderly. The robust stance from the US comes at a time when a number of different nations are embracing it.

Sunak’s latest assertion displays that the UK is approaching cryptocurrencies in fairly the alternative method from that of the US. Whereas the US is attempting to push cryptocurrencies in another country, nations like Singapore and the UAE try to embrace them.