- Coinbase CLO Paul Grewal feedback on UK Prime Minister Rishi Sunak’s stance on cryptocurrencies.
- UK Prime Minister Rishi Sunak has said that the UK must embrace web3 and blockchain.
- Grewal said that the US will accept “2050 cryptocurrency return act”.
UK Prime Minister Rishi Sunak not too long ago mentioned in regards to the enlargement of a16z to the UK that the nation ought to embrace improvements corresponding to Web3 and blockchain expertise. Sunak’s assertion caught the eye of Coinbase’s chief authorized officer, Paul Grewal. Grewal sarcastically said in certainly one of his current tweets that the US will doubtless accept “2050. cryptocurrency return act”.
Though there isn’t a such act, Grewal sarcastically talked about that whereas different nations are utilizing Web3 and blockchain expertise, the US will probably be behind and advocate for the return of cryptocurrencies in 2050. His assertion comes because the US regulator, the SEC, filed swimsuit towards Coinbase and Binance.
Grewal’s assertion additionally caught the eye of crypto lawyer John E. Deaton. In his tweet, he said that the nation wants candidates in 2024 who assist American innovation.
US regulators have taken a harder stance on cryptocurrencies in current months. In February 2023, the Securities and Alternate Fee (SEC) sued the world’s largest cryptocurrency alternate, Binance, for unlicensed inventory alternate operations. Regulators went after the massive crypto gamers one after the other. In a current lawsuit, the SEC additionally known as a number of cryptocurrencies securities.
These actions have led some to consider that US regulators are attempting to disrupt the cryptocurrency trade. However regulators mentioned they had been merely attempting to guard traders and hold the cryptocurrency market honest and orderly. The powerful US stance comes at a time when a number of different nations are following swimsuit.
Sunak’s newest assertion reveals that the UK is approaching cryptocurrencies in stark distinction to the US. Whereas the US is attempting to push cryptocurrencies in a foreign country, nations like Singapore and the UAE are attempting to embrace them.
