Coinbase CEO Brian Armstrong Outlines Dream Regulatory Structure For Crypto, Says It’s Not Rocket Science

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Coinbase CEO Brian Armstrong gives his version of what US crypto regulation should look like, just days after the US Securities and Exchange Commission (SEC) sued the exchange.

In a new interview with The Wall Street Journal, Armstrong details his dream regulatory structure for crypto in the United States.

According to Armstrong, the ideal regulatory framework sets boundaries for the roles of the SEC and the Commodity Futures Trading Commission (CFTC), while providing stipulations for investor protection.

So the first is that we just need to clarify the structure of the market and how the CFTC and the SEC are both going to regulate this industry. What are the limits ? I think we also need to provide basic consumer protection. It’s actually not rocket science. It’s just a matter of applying some of these basic common sense ideas to the industry.

Armstrong says that once the United States creates a framework for the crypto industry, the country will see a return of entrepreneurs who may have left due to the series of enforcement actions taken against the trading space. digital assets this year.

And then, once we have this legislation in place, I think we’ll start to see some of the entrepreneurs who left the United States come back and say, “Okay, I think we’re not just going to be attacked at random or have insanely high legal bills at any time, and we can start a business again here in the United States.

The SEC filed a lawsuit against Coinbase last week, accusing the exchange of operating as an unregistered securities exchange, brokerage and clearing agency.

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