Coinbase, the largest cryptocurrency exchange in the United States, is launching a global think tank to shape the policy debate on digital assets as regulators and Congress explore how crypto assets should be governed.
The Coinbase Institute will accelerate research on cryptocurrency and Web3 – a decentralized version of the internet – and lead discussions with policymakers and academics on the intersection of technology and finance, said Hermine Wong, director policy at Coinbase and director of the institute.
The group did not list any specific policy goals it wishes to champion, but said its goals include conducting research, establishing partnerships with academic institutions, and building an internal team to increase public knowledge about the crypto ecosystem.
“We’re interested in all areas of research that involve crypto-economics and how it’s interdisciplinary, how it’s connected to our global economy, and so there’s nothing that’s going to be banned,” she said. declared.
The crypto industry has lobbied regulators and lawmakers to shape how they oversee the sector. Cryptocurrencies have fallen in recent weeks on fears of rising interest rates.
Regulators are getting closer to crafting new rules. Last week, the chairman of the International Organization of Securities Commissions said global market regulators would likely launch a joint body sometime next year to better coordinate crypto regulation.
The collapse of so-called “stablecoin” TerraUSD has also led some officials, including US Treasury Secretary Janet Yellen, to call on lawmakers to create a new regulatory framework for cryptocurrencies.
Coinbase has increasingly tried to shape cryptocurrency regulation. In October, the company released a digital asset policy proposal in which it suggested that Congress create a new regulator to oversee the burgeoning industry.
In 2021, Coinbase spent $785,000 on lobbying efforts in the United States, according to analysis by Crypto Head. (Reporting by Hannah Lang in Washington; Editing by David Gregorio)