Coinbase CEO Brian Armstrong Says the US Needs Crypto Regulatory Clarity To Maintain the Dollar-Based Soft Power
Coinbase CEO Brian Armstrong says that it is “really imperative” for the US to have a regulatory framework for crypto assets.
Armstrong says in a new CNBC interview that the US is an exception among other major economies with regard to achieving regulatory clarity for crypto.
According to the Coinbase CEO, the US has a lot to lose from the regulatory uncertainty.
“The vast majority of the G-20 countries have already kind of put their regulatory framework in place. We’ve seen that now in you know Singapore, Hong Kong, the UK, Brazil, in Australia. So it’s really just the US which is kind of an outlier here. And that’s something that I think is very much within our power to control.
In fact, I would say it’s a national security issue. If we want the US to be relevant as a financial hub, a tech hub, to project American soft power through our reserve currency with US dollar stablecoins, it’s really imperative that we get this right.”
Armstrong further says that regulatory uncertainty in the US is already causing America’s global share of crypto industry jobs to decline.
“At this point, the US is severely behind [on crypto regulations]. Actually, if you look at the other G20 countries, 83% of them now either already have crypto legislation on the books or it’s in progress – it’s being drafted, and implemented.
The US is behind here and we’ve seen the share of the US job market around crypto shrink from about 40% to about 29%. And it’s due to this lack of regulatory clarity.”
I
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Coinbase CEO Brian Armstrong Says the US Needs Crypto Regulatory Clarity To Maintain the Dollar-Based Soft Power appeared first on The Daily Hodl.
Go to Source
Author: Mark Emem
