Coinbase Global Inc, which is a digital currency exchange operator, has been recently under scrutiny from US regulators, speaking remotely on Wednesday at New York's Messari Mainnet conference calling on lawmakers to ensure a "level playing field" for all financial companies.
Emilie Choi, president of Coinbase Global Inc, said: "The company seeks transparency, clarity, and fairness from regulatory authorities. We just want to make sure that there is a level playing field for crypto firms and other financial service providers. We really want to get to this place where there are only rules and norms of common sense."
During the previous week, Coinbase announced plans to launch a product that will pay users interest for lending their tokens, as the firm succumbed to pressure from the Securities and Exchange Commission.
The correlation between the growth of Bitcoin and Coinbase since April is shown below:
The Securities and Exchange Commission (SEC), chaired by Gary Gensler, has taken a tough stance on cryptocurrency products and the platforms on which they trade. The planned Coinbase Land program, which would allow users to earn 4% by providing their tokens, has become a flashpoint in the growing tension between the regulator and the growing crypto industry.
Coinbase operates the largest American platform for trading digital assets. In April, the company's valuation rose to $ 89 billion when it became public due to a direct listing on the Nasdaq exchange.
