Hello friends. The crypto community and companies in US are showing concern because of the uncertain crypto regulations in the country. You have to feel for the crypto community in United States because of the uncertain situations there for the crypto community.
Recently, the CEO of Coinbase, Brain Armstrong indicated that he may not ruled out relocating the exchange moving away from US if the regulatory uncertainty for the industry remains in the country.
Coingape
Businesses flourish if they are provided safety and security. If there ain't clear regulatory environment for an industry like the crypto, how could they operate?
Upon asking by the former UK Chancellor, George Osbourne about the possibility of Coinbase leaving the US, Brain Armstrong said anything is on the table which include relocating or whatever is necessary.
Armstrong further said that US has the potential to be an important market for the crypto industry, but currently they don't see any regulatory clarity.
Not to forget, this statement comes weeks after its rival exchange Bittrex saying that it had planned to exit US by the end of this month, mentioning the current economic and regulatory environment in the country.
Both Bittrex and Coinbase have received a Wells Notice from the SEC.
According to Armstrong, the regulators are not able to distinct the different arms of the crypto industry. He thinks exchanges like Coinbase should be regulated like financial services companies whereas the areas that are decentralized in the industry should be handled differently as there is no central regulatory authority.
This may probably get intense in future if no clear friendly regulations were put forward by US as there is a good amount of crypto community over there.
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