Coinbase CEO Draws Criticism For Suggesting Crypto Industry is ‘Moving Offshore’
Coinbase CEO Brian Armstrong has suggested that regulation by enforcement is forcing the industry offshore, but his comments have agitated sections of the crypto community. Armstrong’s comments came in a Twitter thread on Tuesday in which the founder railed against the current political and regulatory climate in the U.S.
Armstrong sees a parallel within the cryptocurrency sector. As Armstrong argues the U.S. is in danger of being left behind and weakened due to overbearing regulation. According to the Coinbase chief, “Regulation by enforcement has a terrible chilling effect,” and, “we’ve already seen a huge amount of crypto talent, asset issuers, and startups go offshore.”. Armstrong didn’t offer specific examples to back his claims, and what he was referring to remains unclear.
Source
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