Coinbase CEO calls for unity in crypto regulation push

Coinbase CEO Brian Armstrong is encouraging the cryptocurrency community to unite in their efforts to establish clear and sensible regulations for the industry. Inserted in Zora’s marketplace, Armstrong recently minted a “Stand with Crypto” commemorative NFT – a blue shield symbolising a united effort to safeguard and advance the potential of cryptocurrency exchange. The exchange added that anyone eager to assist through mounting a monumental NFT “Stand with Crypto” should include a shield emoji next to their Twitter username. Coinbase also donated proceeds of the NFT collection to ‘vetted organizations,’ comprising DeFi Education Fund, Blockchain Association and CoinCenter. In continuing the effort, the Coinbase community is subscribed to prudent cryptocurrency policies.”

The Coin Wallet that triggered a seismic backlash

Coinbase, which controls $287 billion in assets, recently announced hostility against the US government stating, “How regulatory uncertainty was harming crypto innovation,” and President/CEO Armstrong shared concerns over corporations telling citizens based on erratic unproductive narratives. Those remarks stem from recalcitrance under US regulation long enough in recognition of cryptocurrency consideration. On social media, the cryptocurrency executive shared discontent regarding the Government’s inability to authorise their rapidly-evolving industry revolving in disunity within current regulatory models. Acts like regulatory announcements without rules, double issuance charges or liabilities demanding clauses would break industry zeal of economic growth before it ever had an opportunity to facilitate itself. Supporters continue to uphold the role cryptocurrency business could possess in remodelling outdated systems and replacing fee-heavy financial systems laden with bureaucracy. Armstrong truly believes in openness relating to cryptocurrency, rendering it a simple and important index of intense global concentration with incredible capabilities streamlining businesses and world money distribution.

[h/t Andrew Asmakov]