Brian Armstrong, the chief executive officer of Coinbase the prominent crypto exchange) has recently spoken against the SEC chair. Amid the dispute between Coinbase and the US Securities and Exchange Commission, Armstrong calls for the US SEC chair Gary Gensler’s elimination. On Friday, the chief executive officer of Coinbase appeared in an interview on Yahoo and highlighted the SEC’s enforcement-related approach.
Coinbase CEO Thinks SEC Chair’s Removal May Lead Toward Clarity in the Crypto Regulations
Armstrong stated that the securities regulator has been expressing hostility against the crypto assets. While adding to this, Armstrong disclosed that there is a requirement for a rulemaking procedure. He asserted that the regulation through enforcement is not a solution as it expels crypto entities out of the country.
As per Armstrong the accomplishment of such a procedure may become possible after Gary Gensler’s exclusion from the SEC. The Coinbase CEO expects this to happen in the next year. Despite such views regarding Gensler, Armstrong said there are resilient relationships between Coinbase and the agency. He expressed optimism in the case of clarity concerning the activities in the crypto market in the United States.
He thinks that either the Congress-passed legislation or the court rulings will ultimately achieve the clarity related to crypto. In addition to this, he also pointed toward the likelihood of a diverse SEC chairman in the coming time. He is of the view that this would also be helpful in the overall scenario.
Congress-Passed Legislations and Court Rulings May Play a Significant Role in This, Says Armstrong
In the case of trading volumes, the CEO acknowledges a slump from the top levels witnessed back in the year 2021. However, he affirmed the respective cycles are anticipated in the cryptocurrency market. According to him, the court rulings can set precedents along with offering clarity regardless of the outcome of the lawsuits.
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