Big news in the world of cryptocurrency! Coinbase, a company that lets people buy and sell crypto, wants the government to make rules for cryptocurrency. They say clear rules will help protect people's money and make the crypto world safer and fairer for everyone.
- Coinbase wants the government to decide what kind of crypto is what (like whether it's a 'security' or a 'commodity').
- They want a group called the CFTC to watch over crypto markets, to keep things honest and prevent cheating.
- They also want rules for 'stablecoins', which are special cryptos that try to stay the same price as a dollar. This would help make them safer.
- Some lawmakers are already working on laws to manage stablecoins, showing that the government is taking action!
| Fact | Details |
|---|---|
| Stablecoin rules | Lawmakers are creating new laws to make sure stablecoins are safe and reliable. |
| Penalties for breaking rules | Huge fines ($1 million) and even jail time (5 years) are possible. |
