Mr. Collins previously worked for Thomas R. Carper, Democrat of Delaware and chairman of the Senate Homeland Security and Governmental Affairs Committee, which held the first congressional hearing on digital currencies last November.
He said that his main task at Coinbase will be to help government officials understand Bitcoin, and to educate regulators about Bitcoin, so they adopt rules that protect customers without hampering innovation, and added:
“Coinbase’s whole mission is to really make Bitcoin easy to understand and easy to use. We really do believe that this technology has a lot of promise in this sector and other sectors.”
Founded in June of 2012 and based in San Francisco, California, Coinbase is a Bitcoin wallet and platform where merchants and consumers can transact with Bitcoin. They have recently expanded internationally and added several European countries.
Coinbase leaders have met with various government agencies, including the Internal Revenue Service and the Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, to help inform the discussions about digital currency. The company insists it is trying to preserve the core values of Bitcoin and ensure that it continues to be an open platform that anyone can use.
Fred Ehrsam, a co-founder of Coinbase, said:
Bitcoin is an extremely powerful technology. As the leader in the space, our main goal is to educate people who are going to form the regulations around it in its formative years so its potential remains.
Images from Coinbase and Shutterstock.