Summary
- Coinbase said it has taken issue with the UK government’s ban on political donations made in virtual assets.
- The UK government said it banned political donations via virtual assets on the grounds of national security and protecting democracy.
- Coinbase said the focus should be on identity verification and oversight of the source of funds, rather than restricting payment methods, and noted that the row is highlighting the debate over virtual-asset regulation and technology neutrality.
Forecast Trend Report by Period
Coinbase, a global virtual asset (cryptocurrency) exchange, has criticised the UK government’s move to ban political donations made in virtual assets.
According to virtual-asset news outlet DL News on the 26th (local time), the UK government has barred political donations via virtual assets, citing national security and the protection of democracy.
In response, Tom Duff Gordon, Coinbase’s vice president for international policy, said that "restricting the payment method itself is inefficient," adding that "the key is identity verification and oversight of the source of funds."
The dispute is once again bringing to the fore the debate over the principle of technology neutrality in how virtual assets should be regulated.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
