Coinbase CEO: Confident of Finally Figuring Out Crypto Rules on Behalf of Industry
Coinbase CEO Brian Armstrong said he was confident that the SEC's case against Coinbase would finally clarify the crypto rules on behalf of the industry. He emphasized that: the SEC reviewed its business and allowed it to become a public company in 2021; Coinbase repeatedly tried to register but did not have the means to do so; the SEC and CFTC issued conflicting statements and did not even agree on what is a security and what is a commodity; the SEC did not issue a clear rulebook, but instead took a step to undermine the industry's ability to get a clear understanding of the rules. The SEC has not issued a clear rulebook and has instead taken an enforcement approach to regulation that is detrimental to U.S. interests.
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