“We’re staying in the US!”

Coinbase is arming itself for a regulatory exchange of blows with the Securities and Exchange Commission. The US Securities and Exchange Commission sued the country’s largest crypto exchange last Monday. According to the SEC, Coinbase operates an unlicensed securities exchange, broker, and clearing house. The trading place broke a number of federal laws.

CEO Brian Armstrong dismissed the representation in one Interview with the Wall Street Journal back again. Coinbase has a broker license. However, the SEC has not yet activated this. In addition, the company only offers commodities (goods) on its own platform. To do this, the crypto exchange subjects each coin and token to a “detailed individual test”. “90 percent fail the test,” continued Armstrong.

However, the 40-year-old emphasizes that the procedure is not a reason to leave the USA. In the past few months, the first companies had turned their backs on the United States. Armstrong, however, is combative in the interview: “We will stay as the market leader. The US will come to the right conclusion. Be it through the courts, Congress or the CFTC.”

US elections 2024 as a game changer?

Next year’s presidential election could also play a role on the way to this “right result,” says Armstrong. “Sometimes the wind blows one way and then another four or eight years later,” the Coinbase CEO said.

Republicans are currently dominating the polls in the United States. In addition to the return of ex-President Donald Trump, right-wing conservative Ron DeSantis also has a chance of running for office.

But even outside of the US, other jurisdictions have not entirely given up hope of luring Coinbase to them, like Hong Kong. The Chinese special administrative region recently issued an invitation to the US company to register as a “recognized trading platform”.