- Brian Armstrong hopes Republicans come to power
- They take a cryptocurrency-friendly stance
Coinbase cryptocurrency exchange head Brian Armstrong was interviewed for The Wall Street Journal. The main topic of conversation was the situation with the lawsuit from the SEC and the overall situation with the crypto industry in the United States.
Armstrong hopes that the regulatory situation in the United States will change after the presidential election in 2024. He predicts a victory for the Republican candidate. And this political force takes a more constructive stance on cryptocurrencies.
According to the businessman, one of the main problems in regulation is the power struggle between the SEC and the CFTC. These agencies can’t decide which one of them should run the industry. And Coinbase’s exchange has been caught in the middle of this war.
As for the rules, Armstrong doesn’t think it’s a complicated issue. He hopes that the trial between the SEC and Coinbase will benefit his company and colleagues. Lawyers’ decision will provide greater certainty for the entire crypto industry in the U.S.. He also called for not letting the United States fall behind the rest of the world because of the lack of regulatory transparency.
Armstrong again added that Coinbase will not withdraw from the U.S. market. They don’t delist tokens that the SEC has recognized as securities (and won’t shut down stacking). Only a court should decide such issues.
The man noted that Coinbase has a special department that deals with listing issues. And he has confidence in their professionalism.