The CEO of the largest US crypto exchange Coinbase said that the history of the development of the crypto industry and its prospects are convincing more and more US congressmen to support the development of digital assets.
Brian Armstrong speaking at the Milken Institute conference said which is optimistic about the cryptocurrency regulation situation in the United States. Armstrong acknowledged that more clarity is needed with the regulation of cryptocurrencies. Although, he believes, the US is moving in the right direction:
“In a recent Biden executive order, the administration called on various government departments to clarify the rules governing cryptocurrencies. It was very gratifying to see that officials are aware of the need to protect the innovative potential of cryptocurrencies, as it represents a huge potential.”
At the same time, the head of the Coinbase exchange believes that lawmakers need additional education in the field of cryptocurrency. However, support for the crypto industry among members of the US Congress is growing:
“Bipartisans are positive about digital assets, and I would even say 50% or more of the legislators I meet in Congress now support digital assets. They think it’s good for society. Yes, cryptocurrencies need to be regulated, but… it’s getting harder and harder to meet a real crypto skeptic in Washington.”
The crypto industry reacted positively to Joseph Biden’s decree on a strategy for the development of digital assets. In March, Ripple CEO Brad Garlinghouse called the Presidential Decree on Cryptocurrency Strategy a “win for the industry” as it could end Ripple’s legal battle with the financial regulator.
Source: Bits
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