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**Coinbase CEO Urges Lawmakers to Unlock Stablecoin Interest for Fairer Financial Access**
In a recent statement, Brian Armstrong, the CEO of digital currency exchange and wallet service Coinbase, has called on lawmakers to take action in unlocking the potential of stablecoins. Armstrong emphasized that this move would not only provide fairer financial access but also foster innovation and growth within the industry.
In his address, Armstrong highlighted the growing importance of decentralized finance (DeFi) and the need for regulatory clarity around stablecoins. The executive argued that these digital currencies, pegged to the value of a traditional asset such as fiat currency or gold, have the potential to bring financial services to underbanked and unbanked communities worldwide.
Armstrong urged lawmakers to “modernize” the existing system, suggesting that it is outdated and in need of reform. He emphasized that this reform would enable greater access to financial services for underserved populations, which could lead to a fairer financial landscape.
“We can either modernize the system to benefit consumers — or protect an outdated one that enriches middlemen,” Armstrong urged lawmakers, emphasizing the importance of regulatory clarity and innovation in this space.
Armstrong’s statement comes as part of his ongoing efforts to promote greater awareness and understanding about the potential benefits of decentralized technologies.
Source: https://cryptoslate.com/coinbase-ceo-urges-lawmakers-to-unlock-stablecoin-interest-for-fairer-financial-access/
