Coinbase CEO Says US Is an Outlier as Most G20 Nations Set Crypto Rules
Summary
- Coinbase CEO Brian Armstrong said the US is falling behind major countries in establishing cryptocurrency trading regulations.
- He said most G20 countries and the UK already have a regulatory framework for cryptocurrency trading in place.
- Armstrong urged the US Senate to pass the CLARITY Act by Sept. 15.
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Coinbase Chief Executive Officer Brian Armstrong urged the US to pass the CLARITY Act, saying the country is lagging other major economies in establishing rules for cryptocurrency trading.
In a post on X on Aug. 21, Armstrong wrote that most G20 countries already have regulatory frameworks for crypto trading, underscoring what he described as a regulatory gap in the US.
The UK also put related rules in place a few months ago, he wrote. But the US remains an exception despite being at the center of the world's largest financial market.
He also said the Senate must pass the CLARITY Act by Sept. 15. The chamber is scheduled to hold a procedural vote on the bill that day, and it will need 60 votes to advance.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.