Coinbase CEO calls for a federal governance experiment

Coinbase CEO Brian Armstrong posted a call for more small-scale governance experiments at the federal level or the establishment of innovation sandboxes. He believes that putting every reform up for nationwide debate unnecessarily increases the costs of learning and trial and error, slowing down the process.

Armstrong stated, "Competition is the best consumer protection mechanism in history, and the government is the only sector structurally exempt from competition." He suggested that within specific areas, such as 10 square miles of federal land, faster permitting approvals, relaxed regulations, or different rules should be trialed, and then the implementation results should be re-evaluated, allowing successful practices to be gradually promoted.