Coinbase CEO Sees Binance Settlement as Chance for Industry Renewal Coinbase CEO, Brian Armstrong says the
Binance settlement is a chance for the industry to prioritize compliance and rule clarity to prevent regulators from slamming huge fines on companies. Armstrong wrote
on X (Twitter) shortly after Binance’s settlement with the Department of Justice (DOJ) was announced explaining the need for rule compliance and
Coinbase roadmap since 2012. In a recent interview with Bloomberg, the
CEO stated Coinbase couldn’t move as quickly as others in terms of expansion and onboarding new products in the markets due to the complaint approach stressing that it was the
right decision. Armstrong also charged
regulators to make the proper rules for the sector to flourish in the
United States rather than the persistent court cases and sanctions levied on multiple projects. He added that Americans should but have to look elsewhere to get
benefits from crypto through unregistered exchanges because the US democratic economy should always get it right.
In recent months,
Coinbase has led the push for rule clarity in U.S. courts and in Congress following the renewed regulatory onslaught on the market.
The Securities and Exchange Commission (SEC) filed charges against the company for acting as an
unregistered broker of securities which it has denied with promises to defend
itself vigorously.
