Coinbase CEO Brian Armstrong continues his statements after the lawsuit.
The CEO said in a program he attended that the US will eventually find the truth for crypto. Brian Armstrong used these words in a program he participated in the Wall Street Journal.
Coinbase CEO Brian Armstrong Speaks to The Wall Street Journal
In an interview with the Wall Street Journal, Coinbase CEO Brian Armstrong stated that entrepreneurs leaving the US will return once the government finds the “right turn” on crypto regulations. Armstrong believes the US will gain clarity regarding crypto regulations. He even considers it an important factor to attract entrepreneurs back to the country.
Full WSJ interview on YouTubehttps://t.co/yIF3dGI7oN
— Brian Armstrong (@brian_armstrong) June 10, 2023
Armstrong covered the case in an interview shortly after the SEC sued Coinbase. He stated that he does not believe these records are necessary for Coinbase’s operations and that the assets they trade are commodities. He also stated that Coinbase is facing difficulties in activating the broker-dealer license.
As for the regulations, Armstrong said it’s not too complicated and the United States will get the right result, even if it takes time. He stressed that the SEC and Coinbase lawsuit is important to the US crypto industry. He said he hoped this would provide greater clarity and that the country would not lag behind other countries.
Armstrong said that when there are clear and stable regulations regarding cryptocurrencies in the US, entrepreneurs will bounce back and not be attacked randomly and have excessive legal bills. Noting that the share of global crypto developers in the US is declining, he noted that the regulatory points need to be clarified.
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