Kevin Helms
A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.
Crypto
Brian Armstrong Says the More Crypto Regulation, the Better for Coinbase — CEO Discusses Alleged SEC Investigation – Regulation Bitcoin News
Coinbase CEO Brian Armstrong says “the extra regulation there may be for crypto, the higher it’s for Coinbase.” He revealed an inquiry from the U.S. Securities and Change Fee (SEC), noting: “We don’t but know if this inquiry will turn out to be a proper investigation.”
Coinbase’s CEO on Crypto Regulation
The CEO of Coinbase World (Nasdaq: COIN), Brian Armstrong, mentioned his firm’s efficiency and cryptocurrency regulation throughout Coinbase’s Q2 earnings name Tuesday.
Coinbase’s income declined nearly 64% within the second quarter. The corporate reported a $1.1 billion internet loss, in contrast with $1.59 billion in internet earnings in the identical quarter final 12 months. “Q2 was a take a look at of sturdiness for crypto corporations and a fancy quarter general,” Coinbase stated in its newest letter to shareholders.
Relating to cryptocurrency regulation, Armstrong detailed: “We’ve been happy to see the progress not too long ago each within the U.S. and in international locations around the globe towards extra clear laws for crypto. Within the U.S., there are a number of payments making their approach by Congress with sturdy bipartisan help.”
He additionally talked about President Joe Biden’s govt order on crypto, the EU’s Markets in Crypto-Belongings (MiCA) regulation, and “constructive developments” in Australia, the U.Okay., Hong Kong, Brazil, and different markets.
Armstrong opined:
It’s form of unusual to say, however … in some methods, the extra regulation there may be for crypto, the higher it’s for Coinbase.
“We’re very happy to have interaction with any regulators around the globe who will take time to fulfill with us. We don’t see this as a nasty factor. Quite the opposite, we consider it’s the easiest way to assist the trade transfer ahead,” he famous.
Armstrong on SEC’s Alleged Investigation of Coinbase
Addressing current headlines that the U.S. Securities and Change Fee (SEC) could also be investigating Coinbase over its cryptocurrency listings, Armstrong revealed that in Might the SEC despatched Coinbase a “voluntary request for info,” together with particulars of its asset listings course of. He emphasised:
We don’t but know if this inquiry will turn out to be a proper investigation.
Final month, the SEC charged a former Coinbase product supervisor in an insider buying and selling case and acknowledged that 9 crypto tokens listed on Coinbase are securities. The Nasdaq-listed firm has disputed any allegations that it lists crypto securities.
What do you concentrate on the feedback by Coinbase CEO Brian Armstrong? Tell us within the feedback part beneath.
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