- Brian Armstrong thinks the United States is in danger of missing its chance
- With that, the dollar will lose its status as a world currency
- He calls for developing the cryptocurrency segment, not limiting it
On Tuesday, May 30, WarketWatch published an article authored by Coinbase CEO Brian Armstrong.
In it, he gives his take on the restrictive U.S. policy on cryptocurrencies and speculates on who benefits in the first place.
“States and other democratic countries are confronting the digital systems promoted by an ambitious adversary in the form of China.
China aims to challenge the dollar with the launch of its own CBDC,” Armstrong noted.
CEO Coinbase cited Alipay and Tencent as examples.
He also cited the example of Hong Kong, which will introduce a licensing regime for service providers in the sector on June 1, although cryptocurrency is still banned in China.
Armstrong believes the U.S. could miss its chance if it continues to press the industry:
“For technological leadership and national security, it’s important that this technology be built, letting some of it go here.
If we fail, the next generation of Americans will pay for it.”
We reported earlier that China Central Television aired a video about cryptocurrencies with a bitcoin logo.
Some experts see this as a sign of positive movement toward an easing of regulatory pressure on the sector.