Crypto
US Lags Behind on Crypto Regulation, Coinbase CEO Warns
Coinbase CEO Brian Armstrong is urging the US Senate to pass the CLARITY Act by September 15, citing the country's lagging regulation on cryptocurrencies compared to other G20 nations.
The proposed bill aims to clarify the jurisdiction boundaries of regulatory bodies such as the SEC, CFTC, and S&C Commission, enabling exchanges, brokers, and token issuers to register federally.
Armstrong argues that a clear regulatory framework is necessary for the US market to expand and attract institutional investors. The current uncertainty is causing liquidity and developers to flee offshore jurisdictions with clearer compliance guidelines.