Coinbase CEO says SEC's Gensler is the outlier for refusing to provide guidance, but they still have the courts and Congress Cryptocurrencies
“This was not unexpected,” Armstrong said. “We've been in discussion with the SEC for a long, long time. Even going back to before we were a public company, we started sharing with them how we operate our business, how we list assets on the platform, how we think about our staking program, a large number of dialogues back and forth. They allowed us to become a public company.”
“It's really unfortunate,” Armstrong said. “We work with regulators all over the world, other regulators here in the U.S. I think I'm a reasonable person to get along with. But unfortunately, the SEC under this Chair has taken a regulation-by-enforcement approach instead of creating a clear rulebook in the US that can allow this industry to be built in a safe and trusted way.”
“I think it is an important opportunity for us as a leader in the U.S. to get clarity for this industry, and for America, so we make sure this technology is built here and does not get pushed offshore where customers can get harmed,” Armstrong said. “Unfortunately, they decided to pursue this policy of regulation by enforcement.”
Armstrong said their other recourse is for the United States Congress to act. “We saw a bill last week from McHenry and Thompson clarifying, this is the role of the CFTC and the SEC, and let's have consumer protections,” he said. “There is a broad recognition within Congress that the U.S. will get left behind. The UK, Hong Kong, Singapore, the UAE are saying ‘we want to be crypto and Web3 hubs, come here and build your business.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Coinbase sued by SEC for breaking U.S. securities rules as regulator crackdown expandsThe Securities and Exchange Commission sued Coinbase Global Inc. alleging the crypto firm for years broke its rules. Read on.
Lire la suite »
Bitcoin regains $27k as the market brushes off SEC charges against CoinbaseThe cryptocurrency market showed signs of recovery on Tuesday, with Bitcoin climbing back above $27,000 in the afternoon despite new enforcement actions by the SEC.
Lire la suite »
Coinbase sued by SEC for breaking U.S. securities rules as regulator crackdown expandsThe Securities and Exchange Commission sued Coinbase Global Inc. alleging the crypto firm for years broke its rules. Read on.
Lire la suite »
It's far from over - SEC, Coinbase, Binance and the futureKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Lire la suite »
U.S. SEC’s crackdown on Coinbase, Binance puts other crypto exchanges on noticeThe lawsuits raise questions about other exchanges that have also allowed U.S. investors to trade cryptocurrency coins, and whether they could be at risk of SEC action, industry executives said
Lire la suite »
Coinbase executives defend platform, say crypto sector lacks clear set of guidelinesCoinbase also sought to distance itself from rival exchange Binance, which was also served with an SEC lawsuit on Monday
Lire la suite »