Coinbase CEO Brian Armstrong says ‘the more regulation there is for crypto, the better it is for Coinbase’

Coinbase CEO Brian Armstrong said connected an Aug. 9 earnings call that the institution is keen to spot “common consciousness frameworks for regulation” adjacent twelvemonth wrong the United States.

Armstrong said determination has been “great progress” for crypto regularisation implicit the past twelvemonth and that “the much regularisation determination is for crypto, the amended it is for Coinbase.”

Coinbase precocious received notification that it is being reviewed by the SEC regarding assets that whitethorn beryllium considered securities. The probe was touched upon during the net telephone arsenic Coinbase stated that it welcomes conversations that assistance investors successful knowing the quality of the assets they hold.

The institution noted successful its Aug. 9 shareholders missive that it precocious filed a petition to the SEC, asking the regulator to commencement a nationalist process to update its regulations to let for the “development of the crypto securities markets and the tokenization of the indebtedness and equity markets.”

Coinbase besides noted that it has engaged with the EU connected its Markets successful Crypto Assets (MiCA) proposal, on with different jurisdictions creating a “clear regulatory authorities for crypto.”

Further, Armstrong stated that carnivore markets are “a enactment of caller air” that let the institution to absorption connected activities not imaginable during a bull marketplace erstwhile it is focused connected onboarding caller users. He besides reaffirmed that this is the archetypal crypto “down cycle” for Coinbase arsenic a publically listed company, and thus, immoderate investors whitethorn beryllium unfamiliar with the cyclical quality of the crypto industry.

On the call, Coinbase besides confirmed that it is budgeting for a $500 cardinal nonaccomplishment for the existent carnivore rhythm successful bid to support due hazard management.

The station Coinbase CEO Brian Armstrong says ‘the much regularisation determination is for crypto, the amended it is for Coinbase’ appeared archetypal connected CryptoSlate.