Crypto Industry’s Hard Lobbying Push Now Includes Coinbase

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Oct. 14, 2021, 6:42 PM

Add Coinbase Inc. to the ranks of cryptocurrency firms looking to write their own regulation before Washington does.

The largest U.S.-based crypto exchange released a policy proposal on Thursday calling for the U.S. government to put a new regulator in charge of digital assets and to create a new set of crypto-specific rules, instead of applying decades-old law that governs the rest of the financial system.

“It didn’t make sense to take a legacy regulation and somehow transform it into an agency that would be able to look at these markets anew,” Faryar Shirzad, Coinbase’s chief policy officer, said …