Coinbase’s CEO, Brian Armstrong, has responded to the recent complaint filed by the US Securities and Exchange Commission (SEC) with a firm belief in the forthcoming court battle. In an official statement, Armstrong expressed pride in representing the crypto industry in court and aiming to attain clarity surrounding cryptocurrency regulations.
The exchange has taken proactive measures by posting a YouTube video that addresses the SEC’s allegations. The video presents various statistics and facts, countering the charges levied against Coinbase by the regulatory agency.
The charges against Coinbase, along with another major exchange, have sent ripples through the cryptocurrency community. Armstrong, in a tweet, highlighted crucial details regarding the SEC’s actions. He emphasized that the SEC had previously reviewed Coinbase’s business and allowed the company to go public in 2021. Armstrong also noted the exchange’s repeated attempts to register securities, pointing out the absence of a viable path to register and the subsequent rejection of most reviewed assets.
Armstrong further highlighted the conflicting statements between the SEC and the Commodities Futures Trading Commission (CFTC), suggesting that congressional intervention is necessary to address the situation. He expressed optimism about new legislation being introduced in Congress to tackle these regulatory challenges.
With his unwavering confidence, Armstrong aims to “get the job done” and believes that the legal proceedings will have a significant impact on the landscape of digital assets in the United States. The outcome of this high-stakes battle is poised to provide much-needed clarity and shape the future of cryptocurrency regulations.
Written by Agbo Obinnaya.
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