Coinbase CEO Brian Armstrong has revealed that his company will work with around 150 government agencies to help recruit Bitcoin (BTC) and join the cryptocurrency ecosystem. The initiative is aimed at government agencies in both the US and overseas.
VíaX, the manager who recently attended the White House cryptocurrency summit, explained by Coinbase, the largest crypto exchange in the United States. Supports 145 government agencies at the country’s federal, state and local levels.in addition to 29 creatures outside the border. The purpose is to lead to detention, exchange and use of cryptocurrency.
Armstrong noted that interest in this ecosystem has been growing since March 6th last year, and Donald Trump has signed an executive order to establish a preparation for the US Bitcoin Strategy. According to the only exchange executive cited in the US stock market, “we want to help protect, exchange and use cryptocurrencies, including governments around the world.”
The CEO urged representatives of government agencies interested in contacting the Coinbase team to begin the process. The company’s blog posts detailed support for these entities. Equipped with regulated, safe and essential solutions Manage and protect your digital assets.
Coinbase emphasized that major governments and institutions are associated with them because they are “the most trusted names in the cryptocurrency ecosystem.” They added: “We gain that distinction when we provide our clients with a complete support set and solutions that we need to follow a strict set of principles and view with confidence through cryptocurrency panoramas.”
In that sense, the company He highlighted his role as a strategic alliance. “We are an overall partner for our government clients. In addition to negotiation and custody, we also provide portfolio and Treasury management, due diligence, and ongoing training.”
“We are committed to helping governments understand the structure of the market, implement technical solutions and effectively manage encryption risks,” Coinbase said in his statement.
The announcement comes at a time when government interest in cryptocurrency is escalating. Trump’s executive order signed a week ago We have marked milestones by formalizing the creation of a strategic Bitcoin reserve.
Armstrong showed that the measure created curiosity in other countries. Coinbase and government agencies are seeking to drive the transition to a financial system that incorporates cryptographic effects. The company was founded in 2012 It is positioned as a bridge between traditional institutions and the digital world.
The government approaches Bitcoin
The signaling of Armstrong and Coinbase government agencies to help them engage in the cryptocurrency ecosystem occurs in a context where several governments have already expressed interest in this area.
El Salvador stands out as a vital case. In 2021, the country adopted Bitcoin as its fiat currency (but stopped being caused by pressure from the International Monetary Fund).
Through the National Digital Assets Committee (CNAD), Salvador authorities, They provided advice to other Latin American countries. Paraguay is a recent example. This week, CNAD was known to have led Paraguayan officials to regulate the cryptocurrency sector and signed an agreement on that point.
In addition to Paraguay, El Salvador expanded its support to Argentina. Last year, the country’s CNAD and the National Securities Commission (CNV) maintained a meeting to discuss Bitcoin and, as reported by Crypto, signed an agreement to develop the country’s cryptocurrency industry in South America.
Part of that, the US government We are also taking measures in this direction. In January he issued an executive order creating a working group on cryptocurrency. The second order officially made the Bitcoin Reserve last week. Both movements reported by this measure, They show sustained interest in the sector among the countries.
The Salvador case has influenced other countries. His experience as a pioneer in Bitcoin adoption served as a model. Advice to Paraguay and Argentina shows how small countries affect the region. meanwhile, Coinbase’s participation with the government amplifies this trend.
Which countries work at Coinbase?
Coinbase operates in dozens of countries. The company has licenses and permits to function in countries such as Argentina, Spain, the Netherlands, India, Canada, the UK, Australia, Singapore, Japan, Mexico, Colombia, Chile, Peru, Brazil, and more.
It’s Armstrong We did not specify which of these countries are directly cooperating with Coinbase Exchange’s global operations suggest that it is possible to adopt Bitcoin. The presence of companies in these markets will encourage access to cryptocurrency services for governments of interest.
The list of countries operated by Coinbase reflects international coverage. This development positions Coinbase As a central actor in the expansion of cryptocurrency. Armstrong’s message, coupled with this network, points to a future where Bitcoin can explore more governments.
The approach between government and Coinbase marks a turning point. The adoption of cryptocurrency by public agencies can change global finances. Bitcoin is initially considered a niche tool; Gain the ground in institutional areas.
Collaboration with companies like Coinbase, which provides experience and security, reduces barriers to governments entering this ecosystem. However, there are questions. How does a nation balance the balance between innovation and regulation? What effect does this have on financial sovereignty? The road begins, but the growing interest suggests that cryptocurrencies can be stopped being an alternative To become a pillar of the global financial system.
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