- Armstrong shared this opinion during an interview for CNBC.
- He stated that the US is lagging behind the EU in terms of preparing a regulatory framework for the digital asset 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” stance for some unknown reason. This opinion was expressed by Coinbase CEO Brian Armstrong during an interview for CNBC.
“I think there is a consensus in the US government that we still need a clear set of rules. And this will require a new law from Congress. But the SEC stands apart. This is, if you like, a kind of solo crusade led by Gary Gensler. noted in an interview with Armstrong.
According to the head of the exchange, the SEC is not trying to develop rules and find ways to interact. Instead, the Commission is bombarding her with lawsuits, which will not improve the situation.
Armstrong also noted that Coinbase is not afraid of litigation. Moreover, she is ready for this, since the regulatory framework is still missing, and the SEC requirements are not transparent.
Recall that the court ordered the regulator to respond to the exchange’s petition within 10 days. It was May 4th. In the petition, the company demanded that the department clearly define its position regarding the control of the cryptocurrency segment.
Armstrong also once again emphasized 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.”