Coinbase CEO Admits He Will Not Give Up Despite Pressure From US Regulators

Coinbase, the largest crypto exchange in the US. (Photo; Doc. Techblog)

JAKARTA - The CEO of America's largest crypto exchange, Coinbase, Brian Armstrong, hinted that the company would not give up on pressure from the United States Securities and Exchange Commission (SEC). In March, the SEC sent a notification to Coinbase regarding upcoming law enforcement actions against the exchange.

To CNBC, Armstrong said that the SEC and its head of institutions, Gary Gensler, seem more interested in limiting the crypto industry than managing it. Armstrong stated that the SEC accused Coinbase of selling unregistered securities to investors. However, the company denies the allegations.

According to Armstrong, constant pressure from regulators may bring Coinbase closer to getting the clarity needed from the courts. This will benefit not only the company but also the overall crypto industry.

Armstrong also denied his statement that Coinbase was considering moving to a more conducive environment for their business. In contrast, Armstrong stated that Coinbase would no longer move abroad. However, he acknowledged that the United States was still lagging behind in a regulatory approach to Britain.

Coinbase continues to develop its business globally and is currently seeking investment in the United Arab Emirates. This shows that the company is still committed to having a presence in the United States and also expanding its business abroad.