{"id":83246,"date":"2024-07-01T16:47:41","date_gmt":"2024-07-01T20:47:41","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83246"},"modified":"2024-07-01T16:47:45","modified_gmt":"2024-07-01T20:47:45","slug":"u-s-marshals-service-partners-with-coinbase-what-to-gain","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/u-s-marshals-service-partners-with-coinbase-what-to-gain\/","title":{"rendered":"U.S. Marshals Service Partners with Coinbase; What To Gain?"},"content":{"rendered":"\n

Coinbase Prime seals a pivotal contract with the U.S. Marshals Service to manage large-scale digital assets<\/a> amid legal challenges.<\/p>\n\n\n\n

\"US
US Marshals Service Partners with Coinbase; What To Gain?<\/span><\/em><\/figcaption><\/figure>\n\n\n\n

The U.S. Marshals Service\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> (USMS) has awarded Coinbase Prime a $32.5 million contract. Coinbase Prime is required to administer and custody large-cap digital assets as part of the partnership. This collaboration significantly advances applying blockchain technology to government asset management. It indicates a growing confidence in the security and viability of digital currencies.<\/p>\n\n\n\n

Coinbase Prime Achieves Significant Government Contract<\/strong><\/h3>\n\n\n\n

Coinbase will provide sophisticated trading services and custody solutions to oversee the substantial quantity of digital assets confiscated by the United States government's forfeiture programs. Coinbase<\/a> was chosen for this position after a comprehensive competitive evaluation, demonstrating its ability to operate securely on a large scale. The agency has underscored the necessity of professional, lawful management and disposal of cryptocurrency assets, which must comply with the rigorous policies of the Department of Justice and U.S. Marshals Service (USMS).<\/p>\n\n\n\n

Additionally, the contract is designed to improve the efficacy of the processes associated with managing digital assets. The USMS aims to enhance the administration and liquidation of these assets by consolidating custody and management operations. The arrangement also facilitates the diversification of cryptocurrency types that the government can administer and dispose of, thereby expanding the scope of its digital asset capabilities.<\/p>\n\n\n\n

Coinbase files lawsuit against U.S. agencies in response to obstacles<\/strong><\/h3>\n\n\n\n

The agreement with the USMS is timely. Coinbase has been subjected to substantial legal challenges and scrutiny from U.S. regulators, such as the Securities and Exchange Commission (SEC)<\/a>, and the SEC filed a lawsuit against Coinbase last year for operating without appropriate registration. The case is currently pending in the judicial system. Despite these obstacles, Coinbase has maintained its position in the digital asset sector, and it has recently filed lawsuits against numerous federal agencies for purportedly discriminatory practices against the cryptocurrency sector.<\/p>\n\n\n\n

The exchange has exhibited resilient performance in institutional trading despite these controversies. The platform documented significant institutional trading volume and safeguarded assets worth approximately $330 billion as of the first quarter 2024. The continuous success of Coinbase and the recent partnership with the U.S. Marshals Service (USMS) underscore the increasing institutional confidence in cryptocurrency's legitimacy as a substantial asset class and its capabilities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Coinbase Prime seals a pivotal contract with the U.S. Marshals Service to manage large-scale digital assets amid legal challenges. The U.S. Marshals Service (USMS) has awarded Coinbase Prime a $32.5 million contract. Coinbase Prime is required to administer and custody large-cap digital assets as part of the partnership. This collaboration significantly advances applying blockchain technology […]<\/p>\n","protected":false},"author":59,"featured_media":81592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[150,143,20334],"class_list":["post-83246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-coinbase","tag-sec","tag-u-s-marshals-service"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/06\/Coinbase-stock-1-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83246"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83246\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/81592"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}