Brian Armstrong, CEO of Coinbase, one of the leading cryptocurrency exchanges in the USA and the world, continues to complain about the regulatory pressure in his country.
Speaking at the Fintech Week event in London, the crypto phenomenon stated that the scenario of moving the Coinbase exchange from the USA to another country is on the table if they have to. Armstrong commented on the exchange's move to the UK as a "probable case":
"The UK is the second highest revenue region for the Coinbase platform. We are based in the United States and we believe there is great potential for crypto at our current headquarters. However, the government's failure to provide a clear framework for regulation puts us in a difficult position."
Brian Armstrong Meets with British Officials
During his visit to the country, Coinbase's boss held meetings with British lawmakers and diplomats to exchange ideas. Armstrong praised the British authorities with his post on his Twitter account:
Great meeting today with UK Economic Secretary and City Minister @griffitha.
The UK is moving fast on sensible crypto regulation to both drive economic growth AND consumer protection. Excited to keep investing in the UK. 🇬🇧 pic.twitter.com/478PQSLmDe
— Brian Armstrong (@brian_armstrong) April 17, 2023
"The UK is taking sensible steps towards cryptocurrencies to establish consumer protection as a support for economic growth."
Regulatory Uncertainty in the USA
In the United States, which is a leader in the world financial system, crypto regulation has turned into a complete mess. So far, state institutions have not taken a clear stance on who will set the rules. By 2023, actors such as the SEC and CFTC are putting pressure on the digital asset industry through investigations.