Coinbase Embraces Compliance, Eyes New Chapter in Crypto Industry

• Coinbase Founder, Brian Armstrong, says embracing compliance led to long-term success.
• By doing so since 2012, Coinbase sees a chance for a new era in the crypto industry.
• Coinbase affirms its decision to stay in the US and is betting on regulatory clarity.

In a strategic move, Coinbase founder, Brian Armstrong, reflects on the company’s commitment to compliance since its 2012 inception. Recognizing the need for a long-term vision, the platform prioritized obtaining licenses, assembling compliance and legal teams, and branding itself as a trustworthy entity. Coinbase’s compliance-oriented approach resulted in a deliberate pace, aiming for sustainability over rapid product launches.

The company’s decision to go public in 2021 underscored its dedication to transparency and trust. Coinbase acknowledges the challenges of a compliant approach, emphasizing the difficulty and expense involved. 

However, Armstrong asserts that adhering to the rule of law is the correct path, ensuring the company’s endurance as a generational entity. Recent developments highlight the significance of Coinbase’s commitment to compliance.

Despite facing obstacles due to regulatory uncertainties in the U.S. crypto space, the company sees the opportunity to usher in a new era for the industry. Armstrong expresses optimism that this news can act as a catalyst for achieving regulatory clarity, ultimately eliminating the need for Americans to resort to offshore exchanges.

Coinbase affirms its commitment to staying in the U.S., believing in economic freedom and expressing confidence that the democratic system will provide the right regulatory framework.

Read CRYPTONEWSLAND on google news

Lastly, Armstrong sees decentralization and crypto as powerful tools to revolutionize the financial system and contribute to a more economically free global economy, emphasizing that Coinbase is only at the beginning of its journey.

Read Also

• Celsius Network Files Chapter 11 Bankruptcy Amid Market Fall
• Bittrex Global Assures Stability Amid Bankruptcy Confusion
• FTX Collapse Sparks Calls to Jail Founder Bankman-Fried
• Coinbase Pays NYDFS $100M to Close AML Violations
• Checkout.com Severs Ties with Binance Amid Compliance Concerns