Mike Lempres, Coinbase’s chief legal and risk officer, testified before the House Committee on Capital Markets, Securities, and Investment Tuesday about initial coin offerings (ICOs). In prepared testimony, Lempres stated that although the company does not trade ICOs or any other form of security tokens, Coinbase believes these tokens are inevitable and “full of tremendous potential.” He added that ICOs can assist in developing a more efficient and effective means for capital formation, as well as help spur innovation, the formation of new companies and create growth in the U.S. economy. Read more here.

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