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“There are a lot of problems with the principles of FinCEN legislation… join the center’s efforts”
[Blockchain Today Reporter Seung-won Jeong] Following Grayscale’s pledge to donate to Coin Center, Kraken also pledged to donate $100,000 to Coin Center.
The Cryptocurrency Exchange Coincenter is a cryptocurrency advocate based in Washington, DC, which has objected to FinCEN’s own host wallet regulations and the US government’s stable legislation. The center is committed to providing education related to digital assets to regulators.
On the 1st (local time), Kraken promised to deliver a donation for Coin Center through a blog.
Kraken editor Pete Rizzo said, “The recent STABLE bill and the legislation of the financial crime enforcement network are being challenged by the Coin Center at the forefront.” have. We will deliver donations to the coin center to create the right environment.”
In the last week of January, Grayscale has given $1 million to the Coin Center, and said it intends to provide an additional $1 million at the end of February. Grayscale said, “There are many problems with the law-making principles limited by the Financial Crimes Enforcement Network (FinCEN), and the Coin Center is trying to correct these problems, so we have provided donations.
In January, a stable bill was submitted to the US Congress. If the bill is passed, all stablecoins are subject to regulation. Since then, FinCEN has suggested that it is necessary to limit the cash service business of cryptocurrency exchanges registered in the United States. The cryptocurrency community criticized both the US Congress and FinCEN’s move.
Coin Center said, “The center researches on issues related to cryptocurrency and blockchain, and the purpose of its establishment is to create a regulatory environment that freely innovates blockchain technology.” I have conveyed my opinion in turn.