Banks Are Critical Part of Crypto Ecosystem: Coinbase's Shirzad

What is the main goal of Coinbase in the context of cryptocurrency services?

• To eliminate all competition in the crypto market

• To promote economic freedom and bring a billion people on chain

• To restrict access to cryptocurrency services

• To focus solely on Bitcoin trading

What was the purpose of the letter sent by Coinbase to U.S. banking regulators?

• To clarify or amend positions to allow banks to offer crypto services

• To request a ban on all cryptocurrency activities

• To propose a merger with traditional banks

• To demand higher taxes on cryptocurrency transactions

What was the issue faced by individuals involved in crypto under the previous administration?

• They received government grants for crypto activities

• They were allowed to bypass all banking regulations

• They faced withholding of banking services

• They were given special privileges by banks

Who is David Sachs and what is his role?

• The Crypto and AI czar, bridging the industry with the government

• The new head of the SEC

• A competitor of Coinbase

• A financial analyst for a major bank

What is the significance of having a point person like David Sachs in the government?

• It allows for more government control over crypto

• It ensures the president's vision in the sector is implemented

• It focuses solely on AI development

• It reduces the influence of the crypto industry

What was the SEC's action against Coinbase in June 2023?

• They partnered with Coinbase for a new project

• They awarded Coinbase for compliance

• They ignored Coinbase's activities

• They sued Coinbase for securities rules violations

What change is the new leadership at the SEC focusing on?

• Eliminating all crypto activities

• Creating a more responsive and transparent process

• Reducing the number of stakeholders

• Increasing fines for crypto companies