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Coinbase CEO: Confident of Finally Figuring Out Crypto Rules on Behalf of Industry

Coinbase CEO: Confident of Finally Figuring Out Crypto Rules on Behalf of Industry

2023/06/07 04:21

Coinbase CEO Brian Armstrong said he was confident that the SEC's case against Coinbase would finally clarify the crypto rules on behalf of the industry. He emphasized that: the SEC reviewed its business and allowed it to become a public company in 2021; Coinbase repeatedly tried to register but did not have the means to do so; the SEC and CFTC issued conflicting statements and did not even agree on what is a security and what is a commodity; the SEC did not issue a clear rulebook, but instead took a step to undermine the industry's ability to get a clear understanding of the rules. The SEC has not issued a clear rulebook and has instead taken an enforcement approach to regulation that is detrimental to U.S. interests.

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