Coinbase Urges US Government to Adopt Blockchain Technology for Enhanced Crime Prevention

In a formal communication to the U.S. Treasury Department, Coinbase Chief Legal Officer Paul Grewal emphasized the critical need for federal authorities to integrate blockchain technology into their operational frameworks to combat financial crimes effectively. Grewal highlighted that illicit money laundering operations have evolved in complexity, leveraging advanced methodologies that traditional enforcement tools struggle to counter. He argued that by embracing blockchain’s inherent transparency and traceability, law enforcement agencies could gain superior capabilities to monitor, investigate, and disrupt criminal activities in real-time. This proactive approach, Grewal noted, would not only safeguard the integrity of the financial system but also position the United States as a global leader in regulatory innovation. The appeal underscores a growing industry consensus that public-private collaboration and technological adoption are essential to staying ahead of emerging threats in the digital asset space.