Chief Legal Officer of Coinbase explains that in the United States legislation must be legislated regarding cryptocurrencies to put an end to the instability and insecurity that exists in the crypto sector. The United States will continue to be a place to invest, says Brian Armstrong in a post on X in which he also explained that Coinbase’s objective is to always be in compliance with the law.
Following the resignation of Changpeng Zhao from Binance due to pressure from North American authorities, Coinbase CEO Brian Armstrong spoke out about the regulatory state in the United States and the decisions his company made.
According to Armstrong, Coinbase has followed a strategy that, although it has been “difficult,” has been the correct one. This is because it has guaranteed the firm stability and security in decision-making.
Coinbase Growth On Par with Binance
These statements were made through X, where he also assured that the cryptocurrency market was “not going anywhere” and that a door was now opening for a new era in the industry.
Coinbase is one of the oldest cryptocurrency companies on the market. Founded in 2012, they arrived with the objective of serving the United States market and advancing based on its growth.
In its 11 years of history, Coinbase has faced various problems. From regulatory pressure to bear markets that have forced it to take difficult measures. But even with all this, they have survived. That time in the crypto industry is no small feat, as large companies with greater capital and rapid growth have fallen due to sudden market movements, which is why Coinbase’s work is commendable.
In the midst of a hostile context in the United States, Coinbase CEO Brian Armstrong has decided to talk about the complicated situation and the exchange’s strategy.
Armstrong explains that Coinbase took a “long-term” view that prioritized the regularization of its operations, before rapid growth. Thus, the CEO admits that opportunities were lost, but stability was maintained.
For the CEO of the firm, the most important thing is to transmit trust to the client and this is done by complying with the rules. Although in the United States the legal situation of cryptocurrencies is complicated, Armstrong assures that this can be resolved by being patient.
For this reason, Armstrong reaffirmed that Coinbase’s vision will be to always adhere to the law and that they will not leave the United States because they believe in its freedom and free market.
Binance’s New CEO
Following Changpeng Zhao’s resignation as CEO of Binance, Richard Teng took over. As Zhao explained, the new CEO has more than 30 years of regulatory experience and has been in charge of Binance’s regional markets. After taking office, Teng explained that he has three major goals, including giving confidence to users and working together with regulators to prevent more problems from recurring. He also applauded and thanked Changpeng Zhao for his work during his years as CEO, and explained that Binance’s founding values are stronger than ever.
A new era opens in the regulatory situation of the cryptocurrency market. As Coinbase managers explained, it is necessary for regulations to be established and for the market to be more trustworthy.
By Leonardo Perez
