Coinbase CEO: Crypto is the most important technology that can help update the financial system
Brian Armstrong, Coinbase CEO, joins ’Squawk Box’ to discuss whether policymakers should enact legislation in the crypt and more.
The CEO of Coinbase, a cryptocurrency exchange platform, believes that cryptocurrency is the most important technology that can update the financial system.
He argues that new legislation is needed to improve the current financial system, which is built on outdated technology and laws that do not serve everyone equally.
He also mentions that there is strong support for regulation in Washington D.C. and that at least five senators are working on different bills.
The CEO disagrees with Senator Elizabeth Warren’s claim that current money laundering rules do not cover big parts of the crypto industry and asserts that Coinbase has been licensed and regulated for about ten years.
He warns that the US risks being left behind as other countries, such as London, Singapore, and Hong Kong, are drawing in crypto companies.
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