As known US Securities and Exchange Commission (SEC) Last June, America’s largest cryptocurrency stock exchange coinbaseHe also filed a lawsuit against , claiming that it violated securities laws.
While this case is still ongoing Coinbase CEO Brian Armstrong made important statements.
DecryptSpeaking to , Brian Armstrong stated that despite Coinbase’s efforts to seek regulatory clarity from the SEC, the SEC is still insistent on not helping.
Criticizing the SEC at this point, Armstrong stated that Coinbase has met with the SEC 30 times in total in the last 18 months as part of its regulatory clarity efforts.
Stating that they could not get any results regarding their efforts for clarity in the meetings with the SEC, Armstrong said:
“We have met with the SEC 30 times in the last 18 months, but we have not received any response from the SEC.
We have not received any feedback from the SEC regarding which assets other than Bitcoin (BTC) they believe are securities and which are not.
All we got was the Wells Notice from the SEC. Then the SEC filed a lawsuit.”
Speaking about Coinbase’s initiatives outside the USA, Armstrong said that what pushed Coinbase out of the USA was the regulatory environment and lack of clarity through sanctions in the USA.
Armstrong also pointed out that there was a war between the SEC and the CFTC. “There is a war between the SEC and the CFTC, and this war is creating regulatory challenges for all crypto firms. However, the situation is not the same in England. It’s really good to have a single federal regulator for both commodities and securities in the UK. Because the battle that the CFTC and SEC have over who will regulate which assets does not exist in the UK.” said.
Coinbase CEO lastly British Prime Minister Rishi SunakHe stated that he appreciated ‘s pro-cryptocurrency attitude and said that they wanted to do more business in the UK.
*This is not investment advice.
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