Under the direction of the Department of Justice, the USMS has selected Coinbase Prime to be the best place to keep and swap its “Class 1” (large-cap) digital assets. This choice has drastically changed the American Bitcoin ecosystem.
After much research, the USMS chose Exchange Prime since it has a strong background and can offer big-scale, institutional-grade, safe, reasonably priced cryptocurrencies.
Large-cap digital assets, including Bitcoin (BTC), Ethereum (ETH), and other top-tier cryptocurrencies by market value, fall under Class 1 “assets” according to the USMS. These high-value cryptocurrencies, which are often taken from those engaged in unlawful activity or come from other government contracts, demand secure storage and sophisticated trade services.
Coinbase’s Collaboration With Law Enforcement And Institutional Impact
Under its law enforcement initiative, Exchange has collaborated with numerous law enforcement authorities since 2014. It now deals with agencies worldwide as well as many of the biggest federal, state, and municipal law enforcement agencies in the United States.
Almost three years have passed since Coinbase Prime launched. It relates to institutions and large digital asset holders. As of March 31, 2024, Exchange secured $330 billion in assets and saw $256 billion in institutional trade volume in the first quarter of 2024.
Working with Coinbase Prime by the USMS indicates how increasingly institutions rely on and trust Exchange offerings. Furthermore, it demonstrates how convinced the U.S. government is that Bitcoin is a legitimate and valuable asset.
