Brian Armstrong Highlights Chances Of Coinbase ‘Moving Out’ of U.S.
The U.S. cryptocurrency market has had difficulty growing. Its expansion has been restrained by the regulatory environment's ambiguity and lawmakers' animosity against the sector. Businesses may soon leave the area if this tense connection between the crypto market and the US government continues. The absence of regulatory clarity in the United States seems to have stirred Brian Armstrong, CEO of Coinbase. He has also brought up the idea of the company leaving the United States as a result of this. At the Fintech Week in London, Armstrong responded to a query posed by the former British chancellor George Osbourne by saying,
In the US, Coinbase has a sizable market share. The Armstrong-led exchange might have had the advantage now that Binance is being watched by the authorities. Regulators appear to have targeted the entire industry rather than just one company, though. He went on to say,
“I think the U.S. has the potential to be an important market for crypto, but right now we are not seeing that regulatory clarity that we need. I think in a number of years if we don’t see that regulatory clarity emerges in the U.S. we may have to consider investing more elsewhere in the world.”
The price of Coinbase has also been performing quite well. One of the top-performing large-cap stocks of the year was it, according to the list. This is true even if the firm received a Wells Notice from the Securities and Exchange Commission (SEC).