Coinbase CEO Brian Armstrong says ‘the more regulation there is for crypto, the better it is for Coinbase’


Coinbase CEO Brian Armstrong Says 'the More Regulation There Is For Crypto, The Better It Is For Coinbase'

Coinbase CEO Brian stated on an Aug. 9 earnings name that the corporate is eager to see “frequent sense frameworks for regulation” subsequent yr inside the USA.

Coinbase CEO Brian Armstrong Says 'the More Regulation There Is For Crypto, The Better It Is For Coinbase'

stated there was “nice progress” for crypto regulation over the previous yr and that “the extra regulation there may be for crypto, the higher it’s for Coinbase.”

Coinbase CEO Brian Armstrong Says 'the More Regulation There Is For Crypto, The Better It Is For Coinbase'

Coinbase lately acquired notification that it’s being reviewed by the SEC concerning belongings that could be thought of securities. The investigation was touched upon throughout the earnings name as Coinbase acknowledged that it welcomes conversations that support buyers in understanding the character of the belongings they maintain.

Coinbase CEO Brian Armstrong Says 'the More Regulation There Is For Crypto, The Better It Is For Coinbase'

The corporate famous in its Aug. 9 shareholders letter that it lately filed a petition to the SEC, asking the regulator to start out a public course of to replace its rules to permit for the “improvement of the crypto securities markets and the tokenization of the debt and fairness markets.”

Coinbase CEO Brian Armstrong Says 'the More Regulation There Is For Crypto, The Better It Is For Coinbase'

Coinbase additionally famous that it has engaged with the EU on its Markets in Crypto Belongings (MiCA) proposal, together with different jurisdictions making a “clear regulatory regime for crypto.”

Coinbase CEO Brian Armstrong Says 'the More Regulation There Is For Crypto, The Better It Is For Coinbase'

Additional, acknowledged that bear markets are “a breath of contemporary air” that permit the corporate to deal with actions not attainable throughout a bull when it’s targeted on onboarding new customers. He additionally reaffirmed that that is the primary crypto “down cycle” for Coinbase as a publicly listed firm, and thus, some buyers could also be unfamiliar with the cyclical nature of the crypto trade.

Coinbase CEO Brian Armstrong Says 'the More Regulation There Is For Crypto, The Better It Is For Coinbase'

On the decision, Coinbase additionally confirmed that it’s budgeting for a $500 million loss for the present bear cycle in an effort to keep correct threat administration.

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