{"id":67481,"date":"2022-09-21T13:13:15","date_gmt":"2022-09-21T10:13:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67481"},"modified":"2025-09-07T06:50:33","modified_gmt":"2025-09-07T03:50:33","slug":"brian-armstrong-criticises-us-approach-to-cryptocurrency-regulation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/brian-armstrong-criticises-us-approach-to-cryptocurrency-regulation\/","title":{"rendered":"Brian Armstrong criticises US approach to cryptocurrency regulation"},"content":{"rendered":"<p>A tough approach to regulating the cryptocurrency industry is stifling its development, forcing projects and developers to leave the United States, said Brian Armstrong, chief executive of Coinbase.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Regulation by enforcement has a terrible chilling effect, and rhetoric matters \u2014 we&#8217;ve already seen a huge amount of crypto talent, asset issuers, and startups go offshore.<\/p>\n<p>\u2014 Brian Armstrong (@brian_armstrong) <a href=\"https:\/\/twitter.com\/brian_armstrong\/status\/1572096573789831168?ref_src=twsrc%5Etfw\">September 20, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The enforcement approach has a terrible chilling effect, and rhetoric matters \u2014 we&#8217;ve already seen a huge amount of crypto talent, asset issuers, and startups move offshore&#8221;, Armstrong wrote.<\/p>\n<\/blockquote>\n<p>He said that regulators&#8217; strongest argument is national security.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The United States has let slip semiconductors and 5G, which are now largely produced abroad. They cannot allow crypto to go offshore,&#8221; added Coinbase chief.<\/p>\n<\/blockquote>\n<p>Armstrong reminded that his exchange is based in the United States. He pledged to &#8220;fight for crypto to be successful here for everyone&#8221;.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This is too important for America and the free world,&#8221; the executive emphasised.<\/p>\n<\/blockquote>\n<p>Earlier, Coinbase launched <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-users-to-identify-crypto-friendly-lawmakers-in-the-us-congress\">an in-app tool<\/a> that will gauge attitudes toward digital assets among members of the U.S. Congress.<\/p>\n<p>Earlier this month, the White House <a href=\"https:\/\/u1f987.com\/en\/news\/the-white-house-unveils-a-concept-for-regulating-the-u-s-crypto-industry\">unveiled a framework for regulating<\/a> the cryptocurrency industry. It envisages a range of initiatives, including tougher enforcement against providers of services related to digital assets.<\/p>\n<p>Subsequently, Bloomberg reported on the development of a bill to regulate &#8220;stablecoins&#8221;. In particular, it <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-reports-two-year-moratorium-on-algorithmic-stablecoins-in-the-united-states\">would introduce a two-year ban<\/a> on new algorithmic stablecoins such as TerraUSD.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tough approach to regulating the cryptocurrency industry is stifling its development, forcing projects and developers to leave the United States, said Coinbase chief executive Brian Armstrong.<\/p>\n","protected":false},"author":1,"featured_media":67482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[757,1138,36,26],"class_list":["post-67481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-brian-armstrong","tag-opinions","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=67481"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67481\/revisions"}],"predecessor-version":[{"id":67483,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67481\/revisions\/67483"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67482"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}