In a recent interview, Brian Armstrong, the CEO of Coinbase, discussed the platform’s resolve to expand internationally despite the crucial absence of crypto legislation. Armstrong criticised the US Securities and Alternate Fee (SEC), claiming that the organization’s regulatory ambiguities ignore People’s growing interest in virtual currencies.
The fundamental goal of Coinbase, as shown in the film, is to expand the cryptocurrency market as a whole with the aim of incorporating cryptocurrency into every type of financial institution. In response to Coinbase’s most recent debut in Canada, the CEO claimed that the company has already positioned itself to create its services in the G-20 nations’ global markets.
Armstrong also bemoaned the regulatory obstacles the cryptocurrency community must overcome. He contended that the SEC’s regulatory oversight has had a significant negative influence on the US financial and technical sector, contributing to the loss of their leadership. Such rigid regulations have forced cryptocurrency exchanges, including Coinbase, to relocate abroad and abandon America. Armstrong stated that the regulatory hassles may force a suspension of services in the USA, adding that “America goes to get this proper.”
However, the CEO used the second to thank the US judicial system for its impartial laws, which recently helped major crypto platforms gain a significant victory.
In querying the SEC’s denial of Grayscale Funding’s Spot Bitcoin ETF utility, he alluded to the court order that addressed the regulators as “illegal” and “arbitrary and capricious” and called it into question.
The CEO’s upbeat views on Bitcoin exchange-traded funds (ETFs) were amply demonstrated in his assertion that the ETFs would likely benefit Coinbase in addition to providing fresh capital to the cryptocurrency ecosystem. He continued by saying that Coinbase has been named as the custodian for a number of ETF purposes.