The legal chief in charge of Coinbase is asking for cooperation with the private sector to develop an American digital currency.
In an essay published on Monday, Brian Brooks gave his reasons why why he believes the government should step aside and allow the private sector to control their own blockchain infrastructure.
“The private sector should build The technology, and the public sector Should set monetary policy.”
Brooks asserts that both private and public enterprise can cooperate.
“ there is no more need for the government to control the Blockchain policy of stable coin issues then there is for the government to dictate the technology used by privately owned commercial and investment banks”
Brooks believes that the American government should take action and allow stable coin projects such as Coinbase is USDC and other similar tokens to be free to thrive technologically as they pose no threat to central-bank control as they are essentially dollar backed currencies.
Uncle Bob is veteran of the crypto game. None of what is written should be taken as financial advice and before investing everyone should do their own due diligence.
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