Coinbase CEO Brian Armstrong shared his thoughts on the Ripple case and the regulation of crypto ETFs, following conversations with US lawmakers Maxine Waters and Patrick McHenry.
Armstrong said the Ripple case has created an urgency for regulatory clarity among lawmakers, noting that it has prompted forward legislative efforts.
Brian Armstrong says regulatory clarity has become an urgency for US Lawmakers
Brian Armstrong, who met with US lawmakers in the past days, evaluated their talks. However, the CEO of Coinbase stated that the legislation is urgency following the spot Bitcoin ETF filings and the decision in the Ripple case.
Among the pieces of legislation, crypto and Blockchain-related laws are discussed, such as the Financial Innovation and Technology Act for the 21st Century Act, the Responsible Financial Innovation Act, the Digital Asset Anti-Money Laundering Act, and the Digital Asset Market Structure bills. Armstrong stated that the Ripple case with the SEC has prompted lawmakers to consider the legislative path forward for crypto regulations rather than relying on court rulings.
Coinbase faced its own lawsuit after being accused by the SEC of allegedly violating securities laws. Coinbase executives had dismissed the commission’s claims, opposing the SEC’s approach to imposing regulations on crypto.
In May, Coinbase announced that it plans to hold an event called “Crypto Support Day”. However, it was unclear whether this event eventually took place.
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