Coinbase expects 2023 to be ‘significant year for crypto policy’ in U.S.

The company states: "We have shared in previous quarters that crypto policy is at an important period of transition. That is more true now than it has ever been, and we expect 2023 to be a significant year for crypto policy in the United States and abroad. This could pave the way for crypto to realize its full innovative potential, but could also result in further actions by policymakers and regulators that would have a negative impact on the industry. We are preparing for both eventualities. The public conversation around crypto policy is receiving more attention from the crypto community than it ever has before. FTX’s collapse in November 2022 was undeniably a catalyst for this increased attention. The actions taken by some regulators in response to that collapse, however, have kept the policy conversation at the forefront. Coinbase has concerns about those actions that appear more designed to be punitive and reactive than to address actual consumer interests and the realities of how crypto works. There is, nevertheless, a lot of reason to be optimistic about how crypto policy is developing globally. The European Union’s MiCA framework was finalized in October 2022. Since then, the EU and its member states have directed their attention toward operationalizing and implementing this framework. The significance of this agreement cannot be understated – a fit- for-purpose framework for crypto will be applied throughout 27 different member nations (representing roughly one-sixth of the global economy) in order to create predictability and stability for the industry in those nations."