From WSJopinion: Our existing financial regulatory system doesn’t work effectively for the open, decentralized networks that crypto has created, writes Coinbase CEO brian_armstrong
Brian ArmstrongThe crypto era began 13 years ago with the publication of Satoshi Nakamoto’s seminal paper,.” Two years later, the first commercial bitcoin transaction took place when someone bought two pizzas for 10,000 bitcoin, roughly $571 million today. Today, more than $6 billion in bitcoin transactions happen every day and tens of millions of Americans own some form of crypto currency.
Crypto can bring millions of people into the economic system through immediate, nondiscriminatory access to services. It adds renewed transparency to our financial system through blockchain technology and challenges undemocratic political regimes, which can seize bank accounts and close businesses. It lets people avoid high currency-exchange fees and barriers to remittance flows.
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