2 years ago
Coinbase CEO Brian Armstrong has called connected Congress to walk wide crypto legislation, informing that the U.S. risks losing its presumption arsenic a fiscal hub. “Crypto is unfastened to everyone successful the satellite and others are leading,” the enforcement stressed.
Coinbase’s CEO connected Cryptocurrency Regulation
The CEO of the Nasdaq-listed cryptocurrency speech Coinbase (Nasdaq: COIN), Brian Armstrong, has called connected Congress to walk wide crypto legislation. He tweeted Wednesday:
America risks losing its presumption arsenic a fiscal hub agelong term, with nary wide regs connected crypto, and a hostile situation from regulators. Congress should enactment soon to walk wide legislation.
“Crypto is unfastened to everyone successful the satellite and others are leading,” helium added, mentioning the EU, the U.K., and Hong Kong.
Besides Armstrong, galore radical person complained that crypto regularisation successful the U.S. is not clear, making it hard for companies to comply. However, the president of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has insisted that the instrumentality is clear and that astir crypto tokens are securities.
Gensler has been criticized for taking an enforcement-centric attack to regulating the crypto industry. Recently, the securities watchdog took enactment against crypto speech Kraken implicit its taking program. The committee besides sent a Wells Notice to Paxos implicit stablecoin Binance USD (BUSD). On Thursday, it charged Terraform Labs and CEO Do Kwon with defrauding investors.
Coinbase has insisted that its staking services are not securities. Armstrong tweeted connected Feb. 12: “Coinbase’s staking services are not securities. We volition happily support this successful tribunal if needed.” Moreover, Coinbase tweeted connected Feb. 14:
We don’t cognize what aspects of BUSD mightiness beryllium of involvement to the SEC. What we bash know: stablecoins are not securities.
While the U.S. is tightening its regularisation connected crypto, respective different jurisdictions are striving to go a cryptocurrency hub, including Singapore, Hong Kong, and South Korea’s second-largest city, Busan.
The CEO of Kraken, Jesse Powell, besides called connected Congress to walk authorities connected cryptocurrency aft his speech settled with the SEC and agreed to wage $30 million. “Congress indispensable enactment to support the home crypto manufacture and U.S. consumers who volition present beryllium going offshore to get services nary longer disposable successful the U.S.,” Powell wrote.
Do you hold with Coinbase CEO Brian Armstrong that the U.S. needs wide crypto regularisation oregon the state risks losing its presumption arsenic a fiscal hub? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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