Coinbase Calls for Repeal of SEC Staff Trading Restrictions on Cryptocurrency

BlockBeats News, April 28th, according to Cointelegraph report, Coinbase has urged the U.S. Office of Government Ethics (OGE) to lift the ban that prohibits U.S. Securities and Exchange Commission (SEC) staff from holding cryptocurrency.

In an open letter sent to OGE Acting Director Jamieson Greer and newly appointed SEC Chairman Paul Atkins on April 25th, Coinbase's Chief Legal Officer Paul Grewal stated that SEC staff need to actually use cryptocurrency to better understand how it works and how to effectively regulate it.

In the letter to Jamieson Greer, Grewal wrote, "To regulate a technology, one must first understand it; to understand the technology, one must use it in practice. Allowing SEC staff to hold cryptocurrency is key to equipping them with the necessary knowledge to develop a viable framework for regulating digital assets."