Regulatory policy SEC in relation to digital assets could negatively affect the financial position of the United States. Brian Armstrong, CEO of the bitcoin exchange Coinbase
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— Brian Armstrong (@brian_armstrong) March 23, 2023
In his opinion, compared with countries such as the UK, Brazil and Singapore, the States are “seriously lagging behind.”
On March 23, the SEC sent a notice of investigation to the company regarding the listing procedure on the platform and its products – Coinbase Prime, Coinbase Wallet and the staking service Coinbase Earn.
“We should not be subject to such forced regulation. In a sense, we are happy to go to court if it helps develop case law for the industry,” added the head of Coinbase.
Armstrong also urged American users to give preference to politicians who support cryptocurrencies.
“We are going to elect candidates who support digital assets to make sure our success is assured,” he said.
Amid the SEC investigation, Coinbase shares fell by 14% over the past day. The current price is $66.30.
KWB analysts in the comments The Block stated that the income of the exchange could be seriously reduced if it had to delist any coins at the request of the SEC.
According to experts, about 11% of digital assets on Coinbase can be classified as securities with a high probability, another 45% are subject to medium risk.
Analysts also noted that the forced abandonment of staking on the exchange would not create significant problems. According to their calculations, this service brings the company about 3-4% of the total profit.
Recall that on February 12, Armstrong announced his readiness to defend the exchange’s staking program in court.
In early March, Coinbase launched a public campaign to promote and support digital assets among politicians and regulators.
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