The CEO and co-founder of the cryptocurrency operating company Coinbase, Brian Armstrong, warned that the company will consider moving its headquarters outside the United States if there is no greater regulatory clarity in the cryptocurrency sector.
The CEO and co-founder of the cryptocurrency trading company coinbase, Brian Armstrongwarned that the company will study move your headquarters outside the United States if there is no greater regulatory clarity in the cryptocurrency sector.
“I think that The United States has the potential to be an important market for ‘cryptos’, but right now we are not seeing the regulatory clarity that is needed”, he indicated in an interview granted at Fintech Week in London.
According to Armstrong, “anything is on the table, even relocation or whatever is necessary.” “I think, in a few years, If we don’t see that regulatory clarity emerge in the United States, we may have to consider investing more in other parts of the world.”, he added.
Coinbase had its run-ins with the SEC in recent weeks. At the end of March, the commission warned formally to Coinbase that was considering taking legal action against the crypto exchange understanding that different violations of federal law had occurred American stock.
According to Coinbase’s director of regulatory compliance, Paul Grewal, the firm is “very confident” in “the way we run our businessthe same business that we filed with the SEC to become a public company in 2021.”
“We still think that standard setting and legislation are better tools for defining the law of our industry than coercive measures. But if necessary, we welcome the opportunity for Coinbase and the broader cryptocurrency community to gain clarity in court,” he added.
Besides, from the crypto exchange they harshly criticized the action of the SEC and denounced the lack of cooperation by the regulator.
For his part, Armstrong then also charged against the regulator, going so far as to ensure the SEC “simply hasn’t been fair, reasonable, or even serious in its commitment to digital assets.” Likewise, the CEO of Coinbase has also criticized the regulator’s approach to staking services in the wake of the fine to Kraken and regulatory action on his own company.
Source: Ambito
