A CEO of a compliant platform attends Davos to discuss the U.S. Cryptocurrency Market Structure Act

Source: CryptoNewsNet Original Title: Coinbase’s Davos Plan for Cryptocurrencies! “They Withdrew Their Support!” Original Link: The proposed legislation regulating the cryptocurrency market, which has been on the agenda in the US for some time, will also be discussed at the World Economic Forum in Davos.

With the US bill regarding the structure of the cryptocurrency market currently stalled, global discussions will continue at the forum.

The CEO of a major compliance platform announced that they will be discussing the US cryptocurrency bill with banks at Davos. In a video message, the CEO stated that they will continue working on the US cryptocurrency market structure legislation bill at the World Economic Forum in Switzerland, which will be attended by US President Donald Trump and many European leaders.

The CEO added that the platform would be actively working on the bill throughout Davos and would hold further meetings with bank executives to close any remaining gaps.

“This week in Davos, we will continue discussions on the US digital asset market structure proposal. Through further meetings with bank CEOs, we will work to reconcile the remaining points of disagreement.”

The CEO also stated that stablecoins should create a level playing field for both crypto companies and traditional banks, and that they would relay the content of the Davos discussions to the US Senate and administration to help advance legislation.

As is known, the platform withdrew its support for the market structure bill after reviewing the updated text of the Senate bill. The CEO stated that some provisions in the draft text pose serious risks to the industry. They also noted that some proposed changes in the draft could eliminate stablecoin rewards and give banks the power to restrict competition.