Coinbase Aims to Integrate Crypto in Every Financial Firm: Report

Last Updated:
SEC Coinbase CLO
  • Brian Armstrong emphasizes the necessity of embracing stronger, crypto-friendly regulations.
  • Coinbase CEO sheds light on the platform’s intention to expand its services globally.
  • The interview also focuses on Armstrong’s optimistic approach to the Spot Bitcoin ETFs.

In a recent interview, Coinbase CEO Brian Armstrong addressed the platform’s resoluteness in global expansion amidst the crucial lack of crypto regulation. Armstrong lambasted the US Securities and Exchange Commission (SEC), alleging that the agency’s regulatory ambiguities overlook Americans’ growing interest in digital currencies.

The video spotlighted Coinbase’s primary goal of expanding the crypto market as a whole, with the intention of integrating crypto into every financial firm. Reflecting on Coinbase’s recent launch in Canada, the CEO asserted that the company has already directed its way towards establishing its services in the international markets of G-20 countries.

Further, Armstrong lamented the regulatory hurdles that the crypto community faces. He argued that the SEC’s regulatory scrutiny has been seriously impacting the US financial and technological sector, resulting in the fall of their lead. Such rigid rules have forced crypto exchanges including Coinbase to move offshore, leaving America. Pointing out the possibility of ceasing services in the United States, driven by the regulatory inconveniences, Armstrong cited, “America is going to get this right.”

However, the CEO utilized the moment to acknowledge the US judicial system for its unbiased laws that recently secured a landmark victory for leading crypto platforms. He referred to the court ruling that addressed the regulators as “unlawful” and “arbitrary and capricious”, questioning the SEC’s rejection of Grayscale Investment’s Spot Bitcoin ETF application.

The CEO’s optimistic beliefs on Bitcoin Exchange Traded Funds (ETFs) were strongly evident in his affirmation that the ETFs would potentially benefit Coinbase, along with being a source of new capital to the crypto ecosystem. He added that in several ETF applications, Coinbase has been cited as the custodian.