Coinbase CEO Brian Armstrong talked about the company’s plans to expand to 83% of G-20 countries and expressed optimism about U.S. regulations. He also mentioned that Coinbase is the custodian for several Bitcoin ETF applications.
Coinbase CEO Brian Armstrong recently talked about the company’s global plans on CNBC’s Power Lunch. He mentioned that 83% of G-20 countries have cryptocurrency laws, and Coinbase is expanding into markets like Canada and launching an international derivatives exchange.
Despite regulatory challenges in the U.S., Armstrong is optimistic about the country’s approach to cryptocurrencies. He believes the U.S. will eventually establish clear regulations and mentioned that Congress is reviewing crypto proposals with bipartisan support.
Armstrong expressed frustration with the lack of a clear crypto framework from the U.S. Securities and Exchange Commission (SEC). He argued that regulatory uncertainty doesn’t benefit the 56 million Americans already using cryptocurrencies.
Comparing crypto adoption to electric cars, Armstrong highlighted that more Americans own cryptocurrencies than electric vehicles, showing that crypto is mainstream.
While critical of the SEC’s enforcement approach, Armstrong praised the U.S. justice system’s role in the crypto sector. He cited a recent ruling against the SEC’s actions on Grayscale as a positive development.
Regarding Bitcoin ETFs, Armstrong revealed that Coinbase is the custodian for several ETF applications. He believes ETFs will attract more investors to the crypto market.
Armstrong addressed market competition and emphasized Coinbase’s focus on expanding the crypto industry, viewing it as a growth opportunity rather than a threat. He envisions crypto adoption across various financial services, fintech firms, and emerging Web3 platforms.
Armstrong’s CNBC interview provided insights into Coinbase’s strategies and perspectives, covering global expansion, regulatory challenges, and market dynamics.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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