Coinbase: US Crypto Adoption Influencing Global Policies, Described as a Phenomenon
Dispatch from Sydney
Policy discussions around the world have been sparked by Donald Trump’s embrace of crypto, while Coinbase recently secured approval from Indian regulators. Australian politicians are now paying attention to the crypto vote.
Tom Duff Gordon, Coinbase’s vice president of international policy, has been jetting across the globe to influence lawmakers on crypto regulations. Since Trump became President, there has been a surge in interest and awareness in the sector.
Gordon mentioned during Policy Week in Sydney, Australia, that there has been a notable increase in activity and travels since November.
‘Informal pressure’
Coinbase’s efforts have paid off, with the exchange receiving approval from India’s anti-money laundering regulator. This marks a significant step towards re-entering the Indian market after facing regulatory challenges and pressure from the central bank in the past.
Gordon highlighted that the US continues to set the global agenda on various issues, including the future of digital currencies.
Following Trump’s executive orders and policy changes, the SEC dropped its lawsuit against Coinbase, signaling a shift in regulatory approach.
Steven Vallas, managing director of Blockchain APAC, emphasized the impact of the SEC’s actions on Australia’s regulatory landscape.
‘There are Australians out there who care about this and will vote for candidates who are in favour of crypto.’
— Tom Duff Gordon
Undoubtedly, there is a renewed interest in crypto in Australia, as seen through ASIC’s monitoring and reviews.
‘They want crypto votes’
Gordon’s main focus is on engaging with Australian lawmakers ahead of the upcoming national elections, as he believes a significant portion of the population holds crypto and considers it a critical issue.
Vallas noted that politicians of all parties are increasingly attentive to crypto, with the Labour Party in Australia adjusting its stance to align with public sentiment.
Legislation around crypto is rapidly evolving in Washington, with Congress moving forward on various bills.
Chengyi Ong from Chainalysis highlighted the global impact of the US regulatory changes, with countries either updating existing frameworks or accelerating plans to regulate crypto.
As the US sets the tone in the international policy space, all eyes are on the developments in the country.
Liam Kelly is a reporter based in Berlin for DL News. For tips, reach out to him at liam@dlnews.com.
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