Coinbase CEO: The U.S. Crypto Industry Needs Regulatory Clarity Through Congress or Case Law

Coinbase CEO Brian Armstrong said in an interview that the U.S. crypto industry needs regulatory clarity, and that can only come from Congress or through case law. He said, "There is an ongoing power struggle between the SEC and the CFTC, and Coinbase has been 'caught in the middle' of a turf war between the two agencies; we need clarity because the two agencies have failed to agree on the status of cryptocurrencies as securities or commodities; in order to make that clear, Congress has to step in and enact legislation Until we have legislation, the industry will rely on the case law that will appear in the lawsuit the SEC filed against Coinbase last week."