Crypto Industry Needs Regulation To Thrive, Coinbase Exec Says At Oxford Blockchain – Coinbase Glb (NASDAQ:COIN)

Emphasizing the importance of regulations for the long-term success of the crypto industry, Elke Karskens, U.K. director at Coinbase COIN, the key is to ensure regulatory bodies do not stifle innovation.

She was outlining her perspective on the future of blockchain and cryptocurrencies in a panel discussion at the Oxford Blockchain Conference on Sunday.

Other panelists included Denitza Vatchkova, director of institutional sales and business development at Bullish; Dorian Vincileoni, business development manager at Kucoin; and Chantal Bradford, business development and institutional sales at Deribit on the discussion, which centered around centralized exchanges.

Why Coinbase Favors Crypto Regulation: Karskens said proper regulation is fundamental to the sustained growth of the industry.

“We believe fundamentally regulation is going to inform the success of this industry long term,” she stated. Moreover, she expressed excitement about the growing applications of blockchain technology.

Noting that investment has been a major factor drawing people to cryptocurrencies, she discussed the expansion of use cases, particularly in wallet services.

In the context of increasing demands for transparency in the industry, Karskens highlighted the necessity of a regulatory framework that both protects consumers and fosters innovation.

She lauded jurisdictions such as the U.K., Europe, Hong Kong, Singapore and Australia for rapidly developing regulatory frameworks.

“Regulation that can protect consumers but doesn’t stifle innovation is key,” she emphasized.

She also said that Coinbase is working closely with policymakers and regulators from its early days and has always been in favor of regulation.

Also Read: EXCLUSIVE: Blockchain Could Be ‘Particularly Beneficial’ For Government Transparency, Says Tezos Co-Founder Arthur Breitman

The Unique Opportunity Of Bear Markets: Vatchkova agreed with Karskens on the regulatory aspect and discussed the potential growth of the euro’s share in the cryptocurrency market.

She also spoke about the innovations in the DeFi space and its ability to attract more sophisticated traders.

Vincileoni shared his optimistic outlook on the market and emphasized listening to the core community, particularly during bear markets.

Noting the vital role of a community-driven approach during a bear market, he highlighted that bear markets present a unique opportunity to engage with the loyal user base more profoundly, as it allows the noise associated with bull markets to subside.

The Meme Coin Phenomenon: While the meme coin craze may have raised some eyebrows, it proved effective in generating robust and sustained communities, an aspect central to Kucoin’s approac, Vincileoni said. 

“We’ve seen that even during bear markets, many projects managed to build communities. So it has been about meme coins for a part of it. These projects have shown that they are very efficient at creating communities and sustaining them,” he said. 

Read Next: Do Kwon Sentenced To Prison In Montenegro After Attempting To Flee Country: Extradition Could Come Next

Photo via Pixabay. 

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