Brian Armstrong shared his views on crypto industry problems
Brian Armstrong shared his views on crypto industry problems
Brian Armstrong, CEO of Coinbase, revealed that the main challenges in the crypto industry remain a lack of clarity and clear rules and regulations.
Armstrong stated that there are several avenues through which the crypto industry can achieve much-needed clarity, among which stand out: legal avenues through the courts, legislative action through Congress, and regulatory efforts through the U.S. Commodity Futures Trading Commission (CFTC).
In addition, the popular exchange CEO believes that next year will see a change in leadership at the U.S. Securities and Exchange Commission (SEC), according to Coincu. Also, Armstrong noted that the new SEC chairman may take a different approach to regulating cryptocurrencies, which will be generally beneficial for the industry.
Armstrong also expects cryptocurrencies to be a key issue in the 2024 U.S. presidential campaign. The popularity and global presence of cryptocurrencies and blockchain technology in many industries will attract the attention of many candidates and politicians during the presidential race.
Recall that recently the head of Coinbase expressed his plans to promote innovation in cryptocurrencies and offered 10 ideas for startups that anyone can use. As a result, Brian Armstrong received more than 150 responses with applications to implement his ideas and also voiced a new, 11th startup idea, which is to create a 'Web3 version of LinkedIn'. The new concept aims to revolutionize the way people verify their identity and employment in the Web3 era.
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