Coinbase executive: The crypto bill is the "lubricant for the on-chain economy," calling for the swift passage of a regulatory framework

At the Blockchain Futurist Conference held in Toronto, Coinbase Chief Business Officer Shan Aggarwal stated that the market structure bill (Clarity) and the stablecoin bill (GENIUS) currently under consideration by the U.S. Congress are key components in building a cryptocurrency regulatory framework, with both complementing each other, "like the lubricant for the on-chain economy."

Aggarwal pointed out that the GENIUS bill lays the foundation for the expansion of stablecoins, while Clarity will enable more on-chain assets to be tokenized, facilitating the flow of funds between stablecoins, money market funds, and government bonds, thereby promoting the healthy development of the entire crypto ecosystem. Coinbase's Head of Business Development Scott Meadows added that the combination of these two bills can provide clear rules for institutions and the market, unleashing new institutional interest and vitality.