Brian Armstrong: The US has the potential to become an important market for crypto, but right now we don’t see the regulatory clarity we need

The CEO of Coinbase Brian Armstrong admitted that his company could stop working in the market if there was uncertainty regarding the regulation of the crypto industry. He noted now that all options are being considered, “including relocation or something else needed.”

“I think the US has the potential to be an important market for crypto, but right now we don’t see the regulatory clarity we need. I think that in a few years, if we do not see this clarity, we may be able to think about investing in other countries of the world,” said Armstrong.

Earlier, the SEC warned Coinbase that it could impose some sanctions against the company for transactions with unregistered securities. U.S. Securities and Exchange Notice for Unlimited Digital Assets, Coinbase Earn and Coinbase Prime Programs, and Coinbase Wallet.

The head of the SEC, Gary Gensler, announced that the regulator’s key provides security verification of securities by businesses and individuals carried out with the crypto industry. The official believes that if the holders of any crypto coin are counting on profit, preaching from the actions of another company, this is a sign of a security.

“The action of cryptoassets usually has websites, software updaters, public relations officers with a Twitter account. Crypto companies hire their own lawyers, often lobby interests, meet with the regular SEC and Congress. It’s incredible logic that there is no common group of cryptocurrency promoters, although they are already everywhere,” Gensler said.

He also stated that Ethereum is also regulated, but sometimes it is completely in vain to ignore it. The legislation on the value of securities is time-tested, so the crypto industry would be better off adapting to itself, the official noted.