The crypto industry needs a clear rule book as more businesses are inclined to move offshore thereby posing risks for US national security, Coinbase boss Brian Armstrong said in an interview with Bloomberg TV.
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The Coinbase CEO stressed his top priority in 2023 is the regulatory environment as he wants to make sure the crypto market in the US is moving in the right direction. He added:
"The rest of the world has actually embraced crypto. We've seen all the major financial hubs, Singapore, Hong Kong and London, and the EU just passed comprehensive crypto legislation [...] We need a clear rule book so that this industry can be built here."
Armstrong emphasized he doesn't want to see the market moving to offshore as it happened with 5G and semiconductor manufacturers. He also pointed out many financial institutions in the US, including JPMorgan, Visa and Mastercard, are internally working on crypto products, suggesting crypto is here to stay.
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