Brian Armstrong, the Coinbase (the cryptocurrency exchange) CEO, has reiterated his belief that crypto regulation is not something very complicated. As such, he has also reissued his confidence in the United States to achieve clarity in regulatory issues. However, he admits, that it may take some time.
Coinbase CEO Optimistic About Crypto Regulations
On June 11th, the Coinbase CEO gave some of his time to the Wall Street Journal to talk about multiple issues via an interview. The interview comes shortly after a lawsuit was filed against his exchange on June 6th by the SEC (U. S. Securities and Exchange Commission). According to the SEC’s allegations, Coinbase is an operator of securities exchanges, clearing houses, and broker-dealerships without a registration approved by the commission.
In the interview, the Coinbase CEO also talked about the lawsuit, He explained that, according to his beliefs, Coinbase’s operations did not require those registrations. He said that their traded assets are commodities, and hence the registrations should not be required. He clarified that crypto commodities are being traded on his exchange.
Nevertheless, the Coinbase CEO talked about the difficulties faced by the exchange while activating the license for broker-dealership. He clarified that the exchange has no claims for doing broker-dealership. However, they still acquired a license for it which has remained inactive since the SEC is not giving any permission for activation of it.
While talking about the apparent simplicity of crypto regulations, Armstrong noted that the lawsuit involving Coinbase and the SEC will be significant for the entire United States cryptocurrency. He is further hopeful of the final verdict leading to better clarity and prevent the US from lacking where other countries move ahead. He believes that stable and clear regulations will let crypto businesses come back to the US.