Coinbase’s CEO wants better crypto regulations. In the latest statement by Brain, he stated that the more regulation there is for cryptocurrency around the world, the better it is for their company. Besides, he also disclosed an inquiry from SEC, noting that they yet don’t know whether the inquiry would be a formal investigation or not.
Brian on Crypto Legalizations
Coinbase’s revenue has fallen by 64 percent in the 2nd quarter of this year. They have reported a loss of around 1.1$ billion dollars. However, in a recent letter to shareholders, Coinbase stated that the 2nd quarter of this year was mainly a durability test for crypto exchanges and companies like them, and it was overall a difficult time.Â
When Armstong was asked about the crypto legalizations, he said they are happy to see the rapid development worldwide towards more legalization of cryptocurrencies. He also stated that several bills are creating their way through Congress, which is helpful for them.
Brian also talked about the US President Executive orders on currencies, the European markets in MiCa regulations, as well as positive developments in various nations globally.
Lastly, Armstrong added that they are ready to collaborate with the global regulators who would take the time to meet with them. These statements made it clear that Brian did not consider crypto legalization bad and found it a positive way to take the crypto industry forward.
SEC’s Investigation
Currently, the news that SEC would be investigating Coinbase on its currency listing method is spreading like fire over social media. Addressing it, Brian stated that the SEC sent their company a voluntary request for information, which includes the asset listing process and several others. He also added that he doesn’t know whether the inquiry will be a formal investigation or not.
In July, the SEC charged a retired product manager of Coinbase in an insider trading case and declared that 9 cryptocurrencies that are listed over this platform are really crypto securities. But, the company has declined all the allegations made to them regarding it. However, there was also no clear statement by the company’s CEO on this matter.
What are your thoughts as Coinbase’s CEO wants better crypto regulations? Do you think that coinbase listed crypto securities on their platforms? Let us know in the comments below. And if you found our content informative, do share it with your friends.
Also Read: Bitcoin breaches $24k as US inflation falls to 8.5%.
