Call from the CEO of Coinbase to the US Congress!

Brian Armstrong, founder and CEO of leading cryptocurrency exchange Coinbase, has appealed to the American Congress.

Armstrong, who shared a statement on his official Twitter account yesterday evening, SEC He made a statement with the image he shared after his visit.

Met with the SEC today. We’ll continue pushing for a clear rule book in the US for crypto regs.

The US can’t afford to fall behind on this important technology to update the financial system.

Also important for regulators to set policy and THEN enforce it. Not start with… pic.twitter.com/EaPD7wDbSx

— Brian Armstrong (@brian_armstrong) April 21, 2023

“We met with SEC officials today. We will continue to press for the clarification of cryptocurrency regulations in America. We should not afford to lag behind in the crypto space to advance our country’s financial technology.”

Armstrong stated that Congress must step in for a clear crypto regulation to occur by establishing inter-agency cooperation. coinbase his boss believes that financial institutions sanctioning without regulation is doing great harm.

SEC Pressure on Crypto

While it remains unclear which institution will regulate crypto in the country, the Securities and Exchange Commission SEC has increased its pressure on the industry.

SEC; It filed a lawsuit against Gemini, one of the crypto exchanges, and launched an investigation for Coinbase. Kraken fined $30 million for staking products. Three different exchanges, Beaxy, Paxful, and Bittrex, recently announced that they’ve pulled the plug.

As for digital asset issuers Ripple and Algorand is under heavy pressure from the institution.