Bitcoin exchange Coinbase has launched a television ad in Washington DC highlighting the importance of digital assets as a technological innovation.
We’re running a TV campaign in DC this week to explain why crypto is the most important technology America has to update the financial system.
Lots of policy work to do to ensure America isn’t left behind. https://t.co/yTKI3PZWFG
— Brian Armstrong 🛡️ (@brian_armstrong) May 22, 2023
The company posted an extended version of the video on YouTube. In it, Coinbase CEO Brian Armstrong says that advocates of the purely speculative nature of cryptocurrencies “do not see the forest for the trees.”
According to him, the industry is at an early stage, comparable to the early years of the Internet.
“In essence, cryptocurrency is not a financial product. It is a technology that can upgrade all kinds of financial products. Speed up the time of settlements, reduce the cost of sending money to relatives abroad in another country, ”said Armstrong.
He stressed that innovation could not but appear and will not leave our lives.
The head of Coinbase expressed concern that the United States may face a national security problem due to the technological backlog caused by the regulatory policy regarding cryptocurrencies. This has already happened with many advances in the fields of semiconductors and 5G technology, says Armstrong.
In March, the U.S. Securities and Exchange Commission (SEC) notified Coinbase of an investigation into listing procedures and a number of platform products.
Armstrong called the regulator’s policy disastrous for the US financial sector. He stated that the SEC, under the leadership of Gary Gensler, began a “crusade” against the industry.
Recall that in April, Coinbase responded to the notice of the Commission, declaring its readiness to “resolutely defend itself.”
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