Coinbase releases US legislative wish list

According to Golden Finance, Coinbase is the largest cryptocurrency exchange in the United States and one of the major political donors to the industry. On Wednesday, it outlined its legislative priorities after spending billions of dollars to help the Republican Party win control of Washington in 2024. This blueprint was originally reported by Semafor and could become a roadmap for Washington's influence as the industry shifts from being a regulatory target under the Biden administration to being embraced under President Trump. A major change proposed by Coinbase is the transfer of regulatory authority over cryptocurrency spot trading to the Commodity Futures Trading Commission (CFTC), as the company considers Bitcoin, Ethereum, and other similar digital assets to be commodities rather than securities, a view challenged by the Democratic led U.S. Securities and Exchange Commission (SEC). This will completely change the current way institutions regulate the nearly $3.3 trillion market.