Coinbase CEO Criticizes US Crypto Regulation

Reading Time: < 1 minute

Coinbase CEO Brian Armstrong has said that a tough approach to regulating the cryptocurrency industry is holding back its development, forcing projects and developers to leave the US.

According to him:

“The enforcement approach has a terrible deterrent effect, and rhetoric matters – we have already seen a huge number of crypto talents, asset issuers and startups go offshore.”

The head of the US-based crypto trading platform has said that the regulators’ strongest argument is the issue of the country’s national security.

He has added:

“The US has missed out on semiconductors and 5G, which are now mostly made overseas. They cannot allow the cryptocurrency to go offshore.”