Coinbase Execs Call Crypto Bills ‘Oil’ for Onchain Economy
Coinbase urges Congress to pass crypto market bills, calling them vital for blockchain innovation and growth.
- Coinbase compares crypto laws to oil for the onchain economy
- Calls for urgent action on market structure legislation
- Regulatory clarity seen as key to U.S. blockchain leadership
Top executives at Coinbase have reignited calls for Congress to take swift action on crypto market structure legislation, comparing it to “oil for the onchain economy.” In a bold statement this week, the crypto giant emphasized that without clear rules, innovation in the blockchain space will stall and drift offshore.
According to Coinbase, proper regulation isn’t just about oversight — it’s about enabling growth. In the same way oil fuels machines, smart legislation could power the next wave of blockchain applications, financial products, and jobs.
What’s Stalling Progress in Congress?
Despite bipartisan interest in crypto regulation, political gridlock and competing priorities have slowed down meaningful progress. While several crypto bills, including the Financial Innovation and Technology for the 21st Century Act (FIT21), have been proposed, none have crossed the finish line.
Some lawmakers remain cautious, concerned about investor protection and the risk of fraud. Others are waiting for clearer direction from regulatory bodies like the SEC and CFTC. This indecision leaves the U.S. at risk of falling behind more proactive regions like the EU and parts of Asia.
Coinbase’s message is clear: delay hurts U.S. competitiveness. Without a robust legal framework, companies are left in regulatory limbo, forcing many to move their operations overseas.
Why This Matters for the Future of Blockchain
The call from Coinbase isn’t just about their own business — it’s a broader warning for the American blockchain ecosystem. Clear crypto market structure legislation would provide companies and investors with the confidence to build in the U.S., ensuring the country remains a leader in financial innovation.
From DeFi to tokenized assets, the future of finance is onchain. But it can’t thrive without legal clarity. The pressure is now on Congress to act — before the opportunity slips away.
