Coinbase CEO Brian Armstrong said that the United States is lagging in drafting cryptocurrency legislation while the rest of the world is already using digital assets. The Coinbase chief discussed this in an interview with BloombergTV.
Armstrong also stressed that the instrument for staking from Coinbase is not a security, and added that the company is prepared to defend its interests in court.
“Many firms providing traditional financial services are integrating this technology. JPMorgan, Visa, Mastercard and Franklin Templeton have projects and teams working on integrating cryptocurrencies into their services,” Armstrong said.
The CEO supported the idea of stablecoins, but stressed that not all of them pass checks, citing the recent delisting of Binance USD (BUSD) from Coinbase.
Moreover, Armstrong said that this year his main interest is “the political environment”.
“The rest of the world has effectively embraced cryptocurrency. All major financial centres — Singapore, Hong Kong, London, and the EU — have already enacted comprehensive cryptocurrency regulation. We need a clear set of rules to enable the industry to develop here,” the head of the company said.
As reported, Coinbase’s net loss in the fourth quarter of 2022 amounted to $557 million, which was below expectations.