Coinbase CEO Brian Armstrong noted that countries like China could benefit from restrictive crypto policies in the US.
Brian Armstrong criticized this, stating that the US regulatory stance towards the crypto industry has failed. In an article for MarketWatch on May 30, Armstrong stated that the complexity in crypto markets could lead US policymakers to delete it as an unstable asset class. Increasing regulatory pressures continue to apply to crypto exchanges, exchange owners, and other authorities.
Brian Armstrong Highlights the Potentials of the Crypto Industry
Armstrong stated to policymakers that crypto represents a transformative technology that could revolutionize various industries. Also, the CEO of Coinbase pointed out that there are many more possibilities than individual transactions. As an example, he underlined the service of providing copyright to content creators for secondary market transactions, adding;
“Crypto, like the internet before it, has the potential to modernize many industries, from finance and supply chains to social media, by offering a faster, cheaper, more private and accessible platform.”
Talking about the possibilities and potentials of the crypto industry, Armstrong reacted to the fact that people reduce this issue to the individual. Additionally, the Coinbase side being in trouble with regulators prompted Armstrong to make his remarks more harsh.
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