RIYADH: Nasdaq-listed crypto exchange Coinbase has been meeting with a number of regulators to convince them that the US should have only one federal regulator overseeing the crypto sector.
Currently, there are several different regulators in the US, CEO Brian Armstrong said. He noted that Coinbase has 53 regulators in just one country, the US.
“We’ve met with a number of different regulators out there on a regular basis, I had a meeting last week with the chairman of the SEC Chair Gary Gensler, which I think was very productive,” Coinbase CEO Brian Armstrong said.
Noting that Coinbase serves customers in more than 100 countries, he said: “It’s kind of amazing that we have 53 regulators in just one country, the US.”
Bitcoin value
Bitcoin will easily trade at $500,000 and investors should buy some now even at the current price, Anthony Scaramucci, founder and managing partner of Skybridge Capital told CNBC.
“This is very, very early for people. And I’m trying to do my best to explain to them why they need to own this right now,” he said.
Crypto taxes
A new tax model for cryptocurrency is being prepared in Argentina, where two provinces have now approved crypto tax laws.
This means that Argentine citizens must disclose their crypto holdings and pay taxes according to the trades they make in the provinces of Tucuman and Cordoba.
In these two provinces, cryptocurrencies are treated as other international currencies according to the regulations.
Daily trading
Bitcoin, the leading cryptocurrency, traded higher on Monday, rising by 0.94 percent to $65,122 at 5:28 p.m. Riyadh time.
Ether traded at $4,688, up 2.07 percent, according to data from CoinDesk.