TL;DR Breakdown
• United States government works towards accepting crypto on its terms.
• Coinbase could improve its reputation after partnering with customs services.
The Immigration and Customs Enforcement organization in the United States has bought forensic software from Coinbase. However, there is still no official statement on how the program will be used specifically, either for human or drug trafficking.
The Coinbase software price exceeds $29000 and would work effectively for one year. The customs service has praised the Coinbase forensic software’s efficiency and thinks that the software’s system will comply with the standards they demand.
Coinbase supports North American customs service
Coinbase has been the only distributor that can provide software that favors the customs service. The agency noted that the cryptocurrency-focused company has the best reputation to provide this software. Everything indicates that the agency trusts the crypto exchange without hesitation, which has increased the platform’s reputation.
The crypto company not only handles decentralized transactions but also provides analysis and monitoring services. This company has a decentralized network to improve the agency’s management, such as Customs control.
The secret service agency has also made contracts with Coinbase. The company has a good reception among these agencies because it has been the only decentralized network that complies with the regulators’ orders.
The crypto exchange also stands out for offering a transparent, basic, and open cryptographic service to the public. The platform currently seems to be the only one complying with the United States Securities and Exchange Commission regulations.
Cryptocurrency regulations in the United States
Although it may not seem so, the United States authorities are not anti-cryptocurrencies, but they do not intend to please the virtual market. In this way, several organizations such as the SEC seek to create regulatory projects to monitor cryptocurrencies in the territory.
Latent crypto plans include infrastructure plans, investor protection, cryptocurrency regulations, and virtual market research. If crypto traders and companies support these regulatory ideals, they will work alongside the US government.
Government agencies seem to take advantage of the network that the Coinbase platform establishes. For the future, the crypto exchange could represent the entire cryptocurrency industry by paving the way for negotiations on regulations.
Coinbase platform may increase its crypto adoption throughout the national territory with this society, giving way to new crypto investments.
