Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Coinpedia Fintech News on April 28, 2023, 10:14:02 AM
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On Thursday, Coinbase, the US-based cryptocurrency exchange, responded to the Wells notice issued by the SEC last month with a strong and transparent pledge. In their response, CEO Brian Armstrong revealed the reason why he decided to start the Coinbase company in the US, recognizing the potential of the US market as a major player in the global economy, and its reputation for upholding the rule of law. He also noted the US as a financial and technology hub, making it an ideal location for a startup.
Armstrong explained the consequences of hyperinflation, citing his personal experience in a country where people lost trust in the currency and turned to alternative currencies or bartering systems. He emphasized the importance of doing the right thing in the absence of clarity and showed good faith effort in introducing this technology to a large audience, potentially a billion people in the future.
Armstrong also stated that proactively working with regulators can be a smart approach to ensure that the technology is introduced in a safe and compliant way with any relevant regulations or laws. By expressing their desire to operate with transparency and defend their operations against the Wells notice, Coinbase stands its ground and continues to shape the future of the cryptocurrency industry.