TV commercial showing the potential of virtual currency
Major US crypto asset (virtual currency) exchange Coinbase announced on the 23rd that it will air a new TV commercial in Washington, D.C., the capital of the United States. It is content that virtual currency is not just a financial product but a technology that brings various benefits.
We’re running a TV campaign in DC this week to explain why crypto is the most important technology America has to update the financial system.
Lots of policy work to do to ensure America isn’t left behind. https://t.co/yTKI3PZWFG
— Brian Armstrong (@brian_armstrong) May 22, 2023
In the commercial, Coinbase CEO Brian Armstrong said:
Fundamentally, cryptocurrencies are not just financial instruments.
Cryptocurrencies are a technology that can revolutionize all kinds of financial instruments. It speeds up checkout times, lowers the cost of sending money to family abroad, and provides a new way for artists to get paid and build direct ties with their fans.
He also expressed his concern that the 5G and semiconductor technology industries that have flowed out of the United States will happen with cryptocurrencies. That would be a matter of national security as well.
To improve the lives of ordinary citizens in the United States, it is necessary to ensure economic growth, and to do so, science and technology, including cryptocurrencies, must be supported.
The view that cryptocurrencies are merely speculative assets is narrow, and while the cryptocurrency industry is still in its infancy, it also presents the view that it has the potential of the early Internet.
The TV commercial will be a series. It airs on Sundays in the slot of popular shows, with a new chapter airing every weekend. It has four chapters in all, explaining the importance of cryptocurrencies and how they might affect the United States.
Coinbase is also planning to hold an event to express its support for cryptocurrencies on July 19. The “Stand for Crypto Day” brings together the cryptocurrency community and lawmakers who support cryptocurrencies in Washington to discuss policy.
In dispute with the SEC
Coinbase is currently in litigation with the U.S. Securities and Exchange Commission (SEC). The SEC has issued a notice of legal action against Coinbase, while Coinbase has also filed a limited lawsuit against the SEC.
In the lawsuit, Coinbase is demanding a response to a “petition seeking clarification of regulations regarding the cryptocurrency industry” that the company filed with the SEC in 2022.
The document featured the names of more than 1,700 groups and individuals calling for “building a viable cryptocurrency regulatory framework.” The background is that the SEC has cracked down through legal measures without showing clear guidelines.
The appeals court ordered the SEC to respond, but the SEC said Tuesday that Coinbase does not have the right to order government agencies to perform their duties, and it will take longer to respond. replied.
connection: U.S. Court of Appeals Orders SEC to Respond to Coinbase Petition
Focusing on business development outside the United States
Coinbase is also beginning to focus on expanding its business outside the United States, citing the negative impact of U.S. regulations on the cryptocurrency sector. In particular, we are working in markets such as Singapore, Brazil, Canada, Abu Dhabi and Bermuda.
connection: Coinbase acquires license in Bermuda, prepares derivatives market = report
In addition, the subscription service “Coinbase One” has been officially released in the United States, the United Kingdom, Germany, and Ireland from the 19th, and plans to expand to 31 other European countries within the next few months.
The service offers users free transaction fees, higher staking rewards, 24/7 customer support, tax return preparation, and more.
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