Blockchain Bulletin: Unchained invites some of the leading figures from the industry to explain, analyse and breakdown some of the key themes and news stories transpiring in real-time in an ever-evolving sector.
Coinbase Head of Federal Policy, Robin Cook, joins host Callum Williams on the eve of the US celebrating its 250th birthday with potentially two new crypto regulations being passed by President Donald Trump.
Watch the full interview on paymentexpert.com by clicking the link HERE.
Cook resets the clock back to 2022 by going through the journey of how the US has got to this point as it is on the verge of passing both the CLARITY Act and GENIUS Act, which he stated would be a “major and historic win”.
U.S. Senate Banking Committee GOP/ YouTube
Coinbase: A four-year process to crypto regulation
He explains why it has been a four-year process as policymakers in both the House and Senate grappled with defining crypto and digital assets as either commodities or securities, which are regulated by two separate entities; the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
Cook was then quizzed as to why there was a holdup from the Senate Banking Committee’s draft markup of the CLARITY Act, as banks and crypto firms drew a line in the sand when it pertained to interest-bearing yield of stablecoin rewards.
Regarding stablecoins, Cook walks through some of the most pertinent guidelines and rules for both traditional and decentralised financial institutions to follow for the GENIUS Act, which sees certain rules for stablecoin issuers and providers.
Taking a step outside of the US, Cook reveals that American policymakers have been looking at Europe’s Markets in Crypto Assets (MiCA) framework, admitting there are similarities and reveals why it is now becoming essential for scaling companies to understand a new global crypto regulatory world.
Finally, Cook summarises what both the CLARITY and GENIUS Acts mean for the future of US and how if both get signed off by President Trump, it could enact on his promise of making the US the crypto capital of the world.
