Coinbase CEO Says They Have A Good Relationship With The SEC, Here’s Why!

Coinbase CEO Says They Have A Good Relationship With The SEC, Here’s Why! 

Despite having voiced his complaint many times towards U.S regulators in the past, CEO of crypto exchange Coinbase, Brian Armstrong, recently claimed that Coinbase has a good relationship with the Securities and Exchange Commission (SEC).

SEC & Coinbase Relationship

In a recent interview with Bloomberg, the Coinbase CEO explains that despite the lack of clear crypto regulations and many disagreements in the past, Coinbase actually has maintained a “good relationship” with various members and commissioners at the SEC, as well as even meeting with the SEC Chairman himself, Gary Gensler.

“We’re going to continue to invest in those relationships,” Armstrong continued, “Our interests are aligned.” 

“We want to bring this industry within the regulatory parameters so that we have good consumer protection. But, we also want to preserve the innovation potential.”

Related: Coinbase Launches 435 Campaign For Pro-Crypto Policies In U.S

Coinbase vs SEC

In contrast to what Armstrong claims about Coinbase’s relationship with the SEC, the crypto exchange and its CEO have often voiced their disagreement towards the SEC and other U.S regulators in the past.

Just earlier this month, Brian Armstrong publicly criticized the SEC’s approach to regulating crypto assets after the regulator was revealed to have fined crypto exchange Kraken $30 million for failing to register its staking-as-a-service program as a security. In response to this event, Armstrong argued that Coinbase would “happily defend crypto staking in court” if needed.

“We’re prepared to defend that in court if we need to, but we’re never looking for a fight,” Armstrong said. “I think we’re well within the law, given the stance the SEC has been taking regarding defining certain assets as securities.”

Despite this, however, it seems that one of the biggest issues that Coinbase seems to have with the SEC is a lack of clarity in its regulations. “If clear rules are published, we are happy to follow it. And if the rules change, we are happy to follow those,” Armstrong says.

Related: Why Vitalik Buterin Says Ethereum Should Improve Its User Experience! 

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