Coinbase Chief Legal Officer Paul Grewal made important statements today. Accordingly, he states that BASE, the Ethereum Layer 2 chain developed by Coinbase, may explore token issuance in the future. While the exchange does not currently emphasize BASE’s economics and tokenization, Grewal acknowledges that tokens could become a possibility down the road.
Market expectation for BASE tokens
This statement from the Coinbase executive is the first since the mainnet launch of the Layer 2 chain on August 9. Because it is a very important development for the crypto market, which is eagerly waiting for news about BASE token. Other Layer 2 protocols such as Arbitrum and Optimism attempted airdrops and token issuances last year. It also provided investors with passive income opportunities through airdrop farming.
On the other hand, it is a matter of prioritizing technology and user adoption. Paul Grewal explains Coinbase’s primary goal with the launch of BASE. Accordingly, he emphasizes that the aim is to make the technology accessible to developers and participants. Coinbase, on the other hand, is looking at use cases to attract the next wave of 50 million users into the crypto space. Additionally, as it focuses on incentivizing applications, tokenization remains on the back burner.
Regulatory clarity remains a challenge for Coinbase
The potential for BASE tokens is on the horizon. But regulatory clarity remains a pressing concern. Grewal emphasizes the importance of open regulations that allow protocols to provide user incentives through tokenization. He states that the lack of regulatory clarity is a deterrent to innovation and development in the crypto space. The Coinbase manager points out that such a situation is also a significant obstacle to development.
Coinbase, meanwhile, reiterates its call for regulatory clarity. In response to regulatory challenges, Coinbase says there needs to be clearer regulations in the crypto industry. Accordingly, he launched a community-focused effort. The “Stand with crypto” movement aims to unite the nearly 50 million Americans associated with cryptocurrencies in various ways to join Coinbase in advocating for transparent and comprehensive crypto regulations.
Will there be a base token launch?
An exact timeline for the potential BASE token launch was not disclosed at the time of the call. However, as BASE explores the possibility of entering the token market, the crypto community continues to monitor updates on this intriguing development.
When we look at Kriptokoin.com, we should point out that the moves of the stock exchange are closely followed by the crypto world. The statement made by the Coinbase manager is also a sign that the stock market will make important moves in the coming days.
