- Brian Armstrong, CEO of Coinbase, publicly expresses his confidence in the upcoming legal conflict with the SEC, hoping to establish clearer cryptocurrency regulations.
- Armstrong pointed out conflicting statements between the SEC and CFTC, indicating the necessity for legislative intervention.
In a decisive public statement made today, Brian Armstrong, the CEO of Coinbase, directly addressed the US Securities and Exchange Commission (SEC) complaint lodged against his company. More notably, Armstrong projected a robust sense of confidence concerning the looming courtroom clash with the SEC, declaring his pride in representing the industry in the court of law to gain explicit clarity on cryptocurrency regulations.
In a related move, Coinbase has re-posted a YouTube video initially created in reaction to the SEC’s Wells Notice served to the company. The video explores a wealth of statistics that counteract the accusations made against them by the regulatory authority.
This development has reverberated across the cryptocurrency domain, given that two of the world’s most substantial cryptocurrency exchanges have been indicted by the US regulatory body. Adding to the conversation, Armstrong responded to the SEC complaint today.
In a tweet dispatched by Armstrong, he brought to light several points pertaining to the charges laid today. He noted that the SEC had reviewed Coinbase’s operations and greenlighted its public company status in 2021. Furthermore, Armstrong stated that Coinbase has made consistent attempts to register securities, but the lack of a clear pathway to “come in and register” has resulted in the rejection of most of the assets under review.
Intriguingly, Armstrong delved into the “conflicting statements” put forth by the SEC and the Commodities Futures Trading Commission (CFTC). He highlighted that such discrepancies necessitate an intervention by Congress, adding that new legislation is in the pipeline to rectify the situation.
Exuding confidence in Coinbase’s current standing, Armstrong unequivocally stated their determination to “get the job done.” It’s undeniable that the outcome of these legal proceedings will wield significant influence on the shape of the digital asset landscape in the United States.
