From the XRP lawsuit to crypto regulations: Coinbase CEO speaks his mind
In a recent episode of the “All-In” podcast, Coinbase CEO, Brian Armstrong, gave his opinion on issues related to the irregularity around the cryptocurrency regulatory landscape, his thoughts on how viewing cryptocurrency as one big ocean is outright incorrect, and his way of moving forward with the regulatory bodies in the future.
When asked about the current scenario with regards to the SEC’s stance on cryptocurrencies, Armstrong stated,
“It’s actually better for there to be lack of clarity than to be clarity that is punitive or bad.”
He further went on to state that a lack of clarity is better than having clarity that curtails the growth of any industry. He also pointed out that the SEC considering all cryptocurrencies as securities, as in the SEC vs. Ripple lawsuit is incorrect.
The Coinbase CEO jumped at the issue of how looking at every cryptocurrency under the same microscopic lens wouldn’t make sense. He further went on to state that some cryptocurrencies, such as Bitcoin and Ethereum, maybe commodities, whereas some may be securities, and some currencies, such as stablecoins, could fall in the category of currencies.
“Crypto is going to be many different things, it’s not going to be one regulator doing it”, he asserted.
Further, he also stated that commodities, securities, and currencies cannot be regulated by the same governing body and must have different regulations and regulatory bodies, such as the SEC, and the Commodities Futures Trading Commission (CFDC), or the Treasury. He also mentioned that some cryptocurrencies may not even fall under any of these categories, thus exempting them from being regulated.
However, the SEC has time and again questioned the nature of cryptocurrencies. The dissent filed by
Read more on ambcrypto.com
