Coinbase will ultimately stay in the US despite tensions with the SEC

Brian Armstrong, co-founder and CEO of the Coinbase exchange, was interviewed on CNBC on Monday. He spoke about the regulation of cryptocurrencies, talking about the organizations that are working to put it in place and returned to Coinbase’s decision to migrate out of the USA.

The SEC takes a more anti-crypto stance than other regulators

In the United States, the regulatory vagueness, which pushes away crypto companies, is increasingly evident. That said, the CEO of Coinbase argued that Gary Gensler is trying to regulate cryptoassets in a different way. Brian Armstrong has indicated that the SEC Chairman is taking an anti-crypto stance. He pointed out that the latter is contrary to that of Congress and other regulators in the United States. According to him, the US SEC acts alone when it comes to regulating cryptos for an unknown reason.

” I think the general consensus within the US government is that there should be a clear rulebook, and that’s going to require new legislation from Congress. The SEC is a bit different. There’s kind of a solitary crusade, if you will, with Gary Gensler, the chairman, and he’s taken a more anti-crypto stance for some reason. », has explained the co-founder of the main crypto exchange in the United States.

Armstrong suggested that the SEC is not working on regulating the crypto industry. In effect, the regulator would rather try to restrict the new industry. Just look at the number of lawsuits the SEC has already filed against crypto companies. According to the CEO of Coinbase, the crypto sector did not need all these legal battles.

During the interview, the CEO of Coinbase reacted to reports that the exchange is planning to launch outside of the United States. Once again, Armstrong said the crypto firm has no plans to move its operations to offshore regions. He explained : ” Coinbase is not going to relocate abroad. We will always have a presence in the United States “. Nevertheless, the crypto exchange is planning to move into regions like the UK and the European Union. The Coinbase co-founder explained that these regions have more considered approaches to crypto regulation.