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Coinbase CEO Brian Armstrong assured the public: the administration of US President Joe Biden is sending positive signals about the future of the crypto industry in the country. The entrepreneur stressed that he looks at the situation with optimism and is confident that the regulation of the sector will not harm the development of the industry.
He reiterated words spoken earlier during the Milken Institute conference in early May 2022. Armstrong said that much more clarity is needed on the issue of regulating the cryptocurrency sector, but he believes that the leaders of the United States are moving in the right direction. According to him, today there are all the prerequisites for optimism.
Armstrong stressed that it is necessary to protect the innovative potential of cryptographic technology, because it represents a unique opportunity to create a new economy not only for the United States, but for the whole world. The head of Coinbase believed that the country’s legislative authorities should gain additional knowledge in the field of digital currencies before making key decisions.
The businessman noted: he is very pleased with the fact that many politicians have become positive about the cryptocurrency industry. In the District of Columbia, more than 50% of members of Congress support virtual currencies. They believe that this asset class is good for society, but the industry needs to be regulated. It is important to develop a regulatory framework as soon as possible.
Earlier, the editors of Crypto.ru reported that the popular coinbase exchange for the first time in its history got into the Fortune 500 list. Thus, the company was in the list of the best American organizations in terms of the amount of profit received for the year. In addition, the firm was the only institution from the Web3 sector to achieve such a result.
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