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Coinbase CEO Accuses Incumbents of Blocking Crypto Competition

Guavy AI Editorial Team
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Coinbase CEO Brian Armstrong has accused 'entrenched incumbents' of lobbying against the CLARITY Act, which he believes is an attempt to block crypto companies from competing in US financial services. He framed the dispute as a contest between traditional firms protecting their market share and crypto businesses seeking clearer regulation.

According to Armstrong, regulatory risk poses a significant threat to the growth of the industry in the US. This could slow down adoption, fundraising, and the rollout of token-linked products for companies like Coinbase.

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