Also in DC this week, Coinbase urging US banking regulators to clarify or amend their positions in order to allow banks to offer custody and trading execution services for crypto. A Senate committee is set to hold a hearing tomorrow on what's referred to as debanking. Coinbase chief policy officer Fijar Chizade joins us now from a Brussels fire ore. Good to see you again, Thanks so much for joining us on at Bloomberg Crypto. We're going to talk about what's happening in Washington, d C. In just a minute, but I do want to get your thoughts on how coinbase thinks about listing different assets, really in the context of what we learned from President Trump just ahead of his inauguration with the launch of his Trump Mean coin. Is this something that coinbase would list. Is this something that falls into the category of listing on coinbase, Like, just give us your thinking around this.

Also in DC this week, Coinbase urging US banking regulators to clarify or amend their positions in order to allow banks to offer custody and trading execution services for crypto. A Senate committee is set to hold a hearing tomorrow on what's referred to as debanking. Coinbase chief policy officer Fijar Chizade joins us now from a Brussels fire ore. Good to see you again, Thanks so much for joining us on at Bloomberg Crypto. We're going to talk about what's happening in Washington, d C. In just a minute, but I do want to get your thoughts on how coinbase thinks about listing different assets, really in the context of what we learned from President Trump just ahead of his inauguration with the launch of his Trump Mean coin. Is this something that coinbase would list. Is this something that falls into the category of listing on coinbase, Like, just give us your thinking around this.

Well, we have a very rigorous process by which we evaluate tokens, and in fact, the folks that do this are very much walled off from the rest of us in the company. Just to make sure that there's integrity to the process. There are no leaks, and that they apply the standards that we use rigorously in each token that they look at. So out of the thousands and thousands of tokens that are out there, they're about two hundred and forty that we list on our US platform, and we evaluate each token to make sure it's not a security, to make sure it's CyberSecure, and make sure that there's not a scam underlying it. And that's the process that we apply to the trump coin, which we do list on our platform, and the decision the list is really very much a reflection of what we think the market demand may be and whether the token can meet the standards that we've set, And so we don't comment about individual tokens, you know, we're asked agnostic, but our process is rigorous and we feel good about where the decisions we make.

Well, we have a very rigorous process by which we evaluate tokens, and in fact, the folks that do this are very much walled off from the rest of us in the company. Just to make sure that there's integrity to the process. There are no leaks, and that they apply the standards that we use rigorously in each token that they look at. So out of the thousands and thousands of tokens that are out there, they're about two hundred and forty that we list on our US platform, and we evaluate each token to make sure it's not a security, to make sure it's CyberSecure, and make sure that there's not a scam underlying it. And that's the process that we apply to the trump coin, which we do list on our platform, and the decision the list is really very much a reflection of what we think the market demand may be and whether the token can meet the standards that we've set, And so we don't comment about individual tokens, you know, we're asked agnostic, but our process is rigorous and we feel good about where the decisions we make.

When we did see that coin released, we did see some reporting about some concern about folks in the crypto industry worrying that it was a distraction or worrying that it would hurt the legitimacy of some of the lobbying or at least some of the hopes of what would be achieved during the Trump administration when it came to this space, How do you look at it?

When we did see that coin released, we did see some reporting about some concern about folks in the crypto industry worrying that it was a distraction or worrying that it would hurt the legitimacy of some of the lobbying or at least some of the hopes of what would be achieved during the Trump administration when it came to this space, How do you look at it?

I think every token has a story behind it, and some of the stories are more interesting than the others. People have views one way or the other. We try not to get into the kind of the backstory of any of the tokens. What we try to look at as those standards that I talk about, is it CyberSecure? Is there something about it that is potentially reflective of some sort of scam? Is it a security? And we applied those standards pretty dispassionately and carefully, and so there's a lot of feelings that people have about individual tokens. People have views about the Trump token. Our view is that there's a demand for it. It meets our listening standards, and it's available for our customers if they want to access it through our platform.

I think every token has a story behind it, and some of the stories are more interesting than the others. People have views one way or the other. We try not to get into the kind of the backstory of any of the tokens. What we try to look at as those standards that I talk about, is it CyberSecure? Is there something about it that is potentially reflective of some sort of scam? Is it a security? And we applied those standards pretty dispassionately and carefully, and so there's a lot of feelings that people have about individual tokens. People have views about the Trump token. Our view is that there's a demand for it. It meets our listening standards, and it's available for our customers if they want to access it through our platform.

Well, for ya, let's switch gears here and let's talk about what's happening on the Hill tomorrow, because the Senate Banking, Housing, and Urban Affairs Committee is holding a hearing that many are calling a d banking hearing, and you actually sent a letter urging US banking regulators to clarify or amend their positions to allow banks to offer custody and trading execution services for cryptocurrencies. Typically banks haven't really been able to play in that sandbox, and I thought that was interesting given that, you know, Coinbase obviously offers custody, that's part of your business, and particularly when it comes to a lot of these spot bitcoin ETFs, Coinbase provides custody. Do you see a future in which coinbase is competing with the banks for custody business? Oh?

Well, for ya, let's switch gears here and let's talk about what's happening on the Hill tomorrow, because the Senate Banking, Housing, and Urban Affairs Committee is holding a hearing that many are calling a d banking hearing, and you actually sent a letter urging US banking regulators to clarify or amend their positions to allow banks to offer custody and trading execution services for cryptocurrencies. Typically banks haven't really been able to play in that sandbox, and I thought that was interesting given that, you know, Coinbase obviously offers custody, that's part of your business, and particularly when it comes to a lot of these spot bitcoin ETFs, Coinbase provides custody. Do you see a future in which coinbase is competing with the banks for custody business? Oh?

Absolutely.

Absolutely.

You know.

You know.

Our goal coinbas is to promote economic freedom, and our goal ultimately in terms of participation in the crypto economies is to bring a billion people on chain and that's only going to happen if we have a broad ecosystem of partners who are ready to serve as that demand. And so we welcome competition, and we think banks are critical part of the ecosystem, and so we actually do a fair amount of lobby just to make sure their status ability to engage in cry activity is clear. Now, the backstory on why we wrote this letter is that there was an effort under the previous administration over the course of the last three years to essentially withhold banking services from crypto companies and individuals. So it happened to many of the larger companies, but it also happened to just individuals who were involved in crypto one way or the other and couldn't get a mortgage, or couldn't get an auto loan, or found their bank accounts closed. And I think what the two committees are going to do this week, both the Senate Banking Committee and the House Financial Services Committee, is to try to unearth as much information as they can about what exactly happened. And for our part, we've done two big important things. One is we've had ongoing litigation with the FDIC to have them essentially release the documents that were the basis where behind the curtain they were pressuring banks to stop crypto activity. And then the letter that we issued yesterday that you mentioned, which is from three of the top banking law firms in the country, that clarifies that there's no legal basis for the bank regulators to have pushed the banks to debank the sector. And I think those two things are really important for the committees and for the administration, and so we're pleased to be able to have gotten those out.

Our goal coinbas is to promote economic freedom, and our goal ultimately in terms of participation in the crypto economies is to bring a billion people on chain and that's only going to happen if we have a broad ecosystem of partners who are ready to serve as that demand. And so we welcome competition, and we think banks are critical part of the ecosystem, and so we actually do a fair amount of lobby just to make sure their status ability to engage in cry activity is clear. Now, the backstory on why we wrote this letter is that there was an effort under the previous administration over the course of the last three years to essentially withhold banking services from crypto companies and individuals. So it happened to many of the larger companies, but it also happened to just individuals who were involved in crypto one way or the other and couldn't get a mortgage, or couldn't get an auto loan, or found their bank accounts closed. And I think what the two committees are going to do this week, both the Senate Banking Committee and the House Financial Services Committee, is to try to unearth as much information as they can about what exactly happened. And for our part, we've done two big important things. One is we've had ongoing litigation with the FDIC to have them essentially release the documents that were the basis where behind the curtain they were pressuring banks to stop crypto activity. And then the letter that we issued yesterday that you mentioned, which is from three of the top banking law firms in the country, that clarifies that there's no legal basis for the bank regulators to have pushed the banks to debank the sector. And I think those two things are really important for the committees and for the administration, and so we're pleased to be able to have gotten those out.

Farrir, you and I have not had a chance to connect. Since David Sachs was announced as the Crypto and ais Are, he was widely seen and applauded by many within the industry because you would be seen as this bridge to folks like yourself who've been in the industry for years. Can you give us an idea if you have of any conversations that you've had with David Sachs thus far as he served as the cryptos.

Farrir, you and I have not had a chance to connect. Since David Sachs was announced as the Crypto and ais Are, he was widely seen and applauded by many within the industry because you would be seen as this bridge to folks like yourself who've been in the industry for years. Can you give us an idea if you have of any conversations that you've had with David Sachs thus far as he served as the cryptos.

Are, Well, I'll say a couple of things. I mean, I worked in the White House in a previous administration in a similar role involving international economics. And having a point person who has the backing of the President, whose job it is to make sure that the president's vision on in a particular sector or area gets done is a huge thing. And having a guy like David with his talents as the Crypto and ais are is amazing for the industry, but it's amazing for the American people. It'll ensure that on these two cutting edge technologies, the US will be in a leadership position. We've had a chance to talk to to David and to his team, and I think he said to us what he has said publicly, and I imagine what he's going to say in a short bit, he's got a mandate from the President to move and to move quickly. He's got good partnerships with the committees and the chairs of the relevant committees to get the work done, and we're really really pleased to do our part to try to help make that happen.

Are, Well, I'll say a couple of things. I mean, I worked in the White House in a previous administration in a similar role involving international economics. And having a point person who has the backing of the President, whose job it is to make sure that the president's vision on in a particular sector or area gets done is a huge thing. And having a guy like David with his talents as the Crypto and ais are is amazing for the industry, but it's amazing for the American people. It'll ensure that on these two cutting edge technologies, the US will be in a leadership position. We've had a chance to talk to to David and to his team, and I think he said to us what he has said publicly, and I imagine what he's going to say in a short bit, he's got a mandate from the President to move and to move quickly. He's got good partnerships with the committees and the chairs of the relevant committees to get the work done, and we're really really pleased to do our part to try to help make that happen.

Well. We are looking forward to David Sachs this afternoon speaking, But for before we let you go, I do want to talk about the SEC, and I want to turn the clock back to June twenty twenty three, when the SEC, of course soued coin based alleging securities rules violations, and I'm curious what the conversation has been like, whether or not you're in talks with the SEC to possibly end that lawsuit.

Well. We are looking forward to David Sachs this afternoon speaking, But for before we let you go, I do want to talk about the SEC, and I want to turn the clock back to June twenty twenty three, when the SEC, of course soued coin based alleging securities rules violations, and I'm curious what the conversation has been like, whether or not you're in talks with the SEC to possibly end that lawsuit.

Can't comment on anything relating to our specific lawsuit, but what I would say is we've had a chance to talk to the new leadership of many of the agencies, and in particular the SEC. I think the acting chair and Hester Purse, the other Republican Commissioner, I think are very much focused on a process to heal the agency. What we've had over the last four years is a really abnormal situation where you've got an agency that's refused to engage in dialogue with stakeholders in the public, refuse to provide clarity or answer simple questions, and I think the first order of business, from what I understand from them, is to just create a much more responsive and transparent process where people can come in, have their stay, get a fair hearing, and there be a process that ultimately leads in policy outcomes. So we're very, very excited that we're going to be able to have kind of the normal ability to petition our government like everybody else should be able to on our system. And I think you'll see some good work, including the task force that they've formed under hester person, and I think there'll be more announcements coming soon.

Can't comment on anything relating to our specific lawsuit, but what I would say is we've had a chance to talk to the new leadership of many of the agencies, and in particular the SEC. I think the acting chair and Hester Purse, the other Republican Commissioner, I think are very much focused on a process to heal the agency. What we've had over the last four years is a really abnormal situation where you've got an agency that's refused to engage in dialogue with stakeholders in the public, refuse to provide clarity or answer simple questions, and I think the first order of business, from what I understand from them, is to just create a much more responsive and transparent process where people can come in, have their stay, get a fair hearing, and there be a process that ultimately leads in policy outcomes. So we're very, very excited that we're going to be able to have kind of the normal ability to petition our government like everybody else should be able to on our system. And I think you'll see some good work, including the task force that they've formed under hester person, and I think there'll be more announcements coming soon.

All Right, Well, that's a good place to leave.

All Right, Well, that's a good place to leave.

It.

It.

Really great to get some time with you. That is quinbased, Chief policy officer forr Sharzad

Really great to get some time with you. That is quinbased, Chief policy officer forr Sharzad