Coinbase Calls for Lifting the Ban on Cryptocurrency Ownership by Government Employees
Date: 2025-04-28 Author: Gabriel Deangelo Categories: BUSINESS
In its open letter, Coinbase addressed the acting director of the Office of Government Ethics (OGE) Jamieson Greer and the new SEC Chairman Paul Atkins with a call to reconsider the current restrictions on cryptocurrency ownership for government employees. According to the company, without practical experience in interacting with digital assets, regulators will not be able to create an effective and realistic regulatory framework for the crypto industry.
Coinbase insists that allowing cryptocurrency storage will allow SEC employees to develop the necessary knowledge and skills, which is critical for assessing the activities of companies in the field of digital securities. Without direct participation in the ecosystem, according to exchange representatives, it is impossible to fully understand all the nuances of the market and competently build a regulatory policy.
Coinbase expressed particular concern that the existing ban could jeopardize the implementation of the order of US President Donald Trump. According to his order, recommendations for regulating the cryptocurrency industry must be prepared within the next 90 days. However, due to the current restrictions, SEC employees are deprived of the opportunity to use the technologies on which they are supposed to make judgments and prepare proposals.
In addition, Coinbase recalled that earlier, SEC Commissioner Hester Pierce vividly described the difficulty of regulating the crypto market in the United States, comparing it to a game of "The floor is lava!" in complete darkness. This image, according to the exchange, highlights the need to change the current rules in order to create a more informed and prepared team of regulators.
Thus, Coinbase calls for a review of the policy on cryptocurrency ownership to ensure better training of employees and the effective development of digital asset regulation in the country.
