Coinbase CEO Brian Armstrong shared his views on the future of cryptocurrencies and stablecoins in an interview.
He said that crypto is the most important technology to update the financial system and stablecoins are an important starting point to achieve this vision.
He also mentioned flat coins, a new type of stablecoin that depends on a currency's purchasing power or inflation rate. He said flat coins are still in the early stages of development and Coinbase is interested in exploring them. Armstrong did not say at what stage these new stablecoins are in the development process.
Armstrong also addressed the regulatory challenges Coinbase and other crypto companies face in the US. He said the Securities and Exchange Commission (SEC) has been vague and hostile towards crypto innovation, and Coinbase has sought to engage with them in various ways.
He noted that one possible possibility is for the Commodity Futures Trading Commission (CFTC) to step in and gain more authority on crypto regulation. He also added that there is a chance that a new SEC chairman will be appointed in 2024 or later, who could be more supportive of crypto.
*This is not investment advice.