Bankless Coinbase Moving Offshore?! with Tom Duff Gordon VP, International Policy, Coinbase
May 4, 2023
Tom Duff Gordon, the Vice President of International Policy at Coinbase, shares insights on the company's potential shift to international markets due to U.S. regulatory challenges. He discusses how these regulations impact crypto innovation, expressing concerns about the U.S. falling behind global standards. Duff Gordon elaborates on Coinbase's strategy for global growth, highlighting their recent acquisition of a digital asset business license in Bermuda and the importance of clearer regulations for crypto's future.
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Global Regulatory Focus
- The U.S. debate about security vs. commodity is unique and not prevalent internationally.
- Other countries focus on whether crypto is an existing financial instrument or something new.
Ether Classification in Europe
- In Europe, Ether would likely be classified as a new type of financial token under MiCA, not MiFID.
- This signifies a different approach compared to the U.S. security vs. commodity debate.
International Regulatory Frameworks
- MiCA is a good framework, influential globally, with some concerns around stablecoin treatment.
- The UK's framework is similar but more flexible, while some Asian markets are cautious on retail access.