In a recent interview, Armstrong emphasized that regulating crypto is simple and expressed confidence that the United States will achieve regulatory clarity, even if it takes time.
Armstrong’s comments come amid a clash with regulators, with differing opinions about his approach. Some see his stance as bold and potentially transformative. On the other hand, others view it as reckless posturing by a Silicon Valley crypto enthusiast who may be inviting legal consequences.
The interview is a few days after the Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase on allegations of operating a securities exchange, broker-dealership, and clearinghouse without proper registration.
Armstrong addressed the lawsuit, stating that Coinbase did not require these registrations to operate. However, he acknowledged that the exchange had faced difficulties activating a dormant broker-dealer license it acquired.
The Coinbase CEO also challenged the SEC’s jurisdiction, arguing that securities laws are inappropriate for regulating digital assets and appealing to Congress and the American people to highlight the agency’s flawed approach.
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