Coinbase Uses Remittance Fees to Rally for Pro-Crypto Regulation
- Coinbase (NASDAQ:) points to high remittance fees, arguing for pro-crypto regulation.
- The exchange is ramping up its efforts to influence US regulators.
- Coinbase and claim that a crypto crackdown leaves the US missing a fundamental innovation wave.
Coinbase is lobbying for pro-crypto regulation in the US, using the high fees Americans pay for remittances to support its argument.
US residents spend over $12 billion annually on fees just to send money to friends and family abroad, Coinbase estimated in a recent blog post. The exchange argued that these remittances are a vital lifeline for underbanked communities. Remittances from relatives in developed countries help people buy essential household goods, invest in healthcare, and fund education.
https://twitter.com/coinbase/status/1643297813537886209
Coinbase argues that crypto could make these remittances faster and over 96% cheaper than they…
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