Coinbase CEO Brian Armstrong stated that they will not withdraw from the US despite regulatory uncertainty.
Regulatory debates in the crypto industry have been intensified by the involvement of major crypto organizations. Binance and Coinbase have been two crypto exchanges that have been on the frontlines against US regulators. Coinbase CEO Brian Armstrong said that he was uncomfortable with the SEC’s moves and that they could leave the US if regulatory clarifications were not provided.
However, Armstrong stated in a statement today that they will not leave the United States. Taking a step back, Armstrong did not neglect to criticize SEC Chairman Gary Gensler.
Coinbase CEO: We Will Not Leave the USA
Coinbase CEO Brian Armstrong underscored regulatory uncertainty in the US, while also harshly criticizing SEC Chairman Gary Gensler. In addition, Armstrong made a statement opposite to his previous statement of leaving the United States. Armstrong said that Coinbase will not move abroad.
Coinbase, which received a Wells Notice from the SEC earlier this year, was dealing with legal and regulatory pressures. Armstrong’s statements and his criticism of the regulatory attitude in the SEC drew attention. However, Armstrong seems to have abandoned his decision on the stock market while continuing his criticism.
Armstrong, who made an interview in Dubai, stated that the SEC acted contrary and that its head, Gary Gensler, displayed an opposing attitude to the industry with a crusade.
Speaking on the subject, Armstrong said;
I don’t think he’s trying to regulate the industry, maybe he’s trying to restrict it. But he has filed some lawsuits, and I think that’s pretty useless for the industry in the US, but it’s also an opportunity for Coinbase to get that clarity from the courts that we think will really benefit the crypto industry and the US at large.
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