- This was Armstrong’s opinion during an interview with CNBC
- He said the U.S. is behind the EU in terms of regulatory preparation for the digital assets segment
- He also once again denied rumors about the exchange moving abroad
The Securities and Exchange Commission (SEC) and its head Gary Gensler have taken an “anti-cryptocurrency” position for some unknown reason.
That’s what Coinbase CEO Brian Armstrong said during an interview with CNBC.
“I think there’s a consensus in the U.S. government that we do need a clear set of rules.. And that would require a new law from Congress.
But the SEC stands apart. It is, if you will, a sort of solitary crusade led by Gary Gensler,” Armstrong noted in an interview.
The SEC is not trying to develop rules and find ways to interact, according to the exchange chief. Instead, the Commission is inundating it with lawsuits, which won’t improve the situation.
Armstrong also noted that Coinbase is not afraid of litigation.. Moreover, it is ready to do so because the regulatory framework is still lacking and the SEC requirements are not transparent.
Which reminds us, the court ordered the regulator to respond to the exchange’s petition within 10 days. It was May 4.
In the petition, the company demanded that the agency clearly define its position on controlling the cryptocurrency segment.
Armstrong also once again stressed that the company definitely does not intend to “run away”
“Again. We are not moving and we are not going to. Coinbase will always operate in the US market. But the US is definitely behind.
We see examples of a more productive approach to this issue, for example, in the EU. A comprehensive regulatory framework (MiCA) has actually been adopted there.”