Brian Armstrong calls for clear rules for cryptos. He believes that this will ensure good consumer protection. This could also lead to the development of financial systems, starting with that of the United States.
Ensuring good consumer protection
In an interview with Bloomberg, Brian Armstrong said he favors clearer regulation of cryptos. He reiterated that staking services should not be registered as a security under the jurisdiction of the SEC. In fact, the manager has explained that customers never transfer their assets to Coinbase. This one just provides a service that goes through these coins to help them participate in staking. He also pointed out that Coinbase has a good relationship with regulators in the United States, Europe, Canada, and Asia.
Furthermore, the Coinbase CEO believes that the crypto industry needs clear regulation to stay within regulatory parameters. This ensures good consumer protection while preserving the potential for innovation. He said if clear rules are published, they will be happy to follow them. If they change, they will always be happy to follow them.
Cryptos can revolutionize financial systems
For the CEO of Coinbase, the future of crypto must be built in the United States with a clear regulatory environment. The United States must be a “technology hub” to allow the American financial system to develop. Mr. Armstrong notably touched on the recent testnet launch of his “Base” product, a Tier 2 Ethereum network. Coinbase has also launched new services and products in the crypto ecosystem.
Incidentally, Coinbase recently launched a pro-crypto policy campaign in all 435 US congressional districts. Called Crypto435, this campaign advocates for the introduction of modern regulatory policies for the crypto industry. Meanwhile, the company’s stock continues to rise on the stock market. It has increased by more than 80% since the start of 2023.
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