Coinbase CEO Brian Armstrong Predicts New Details On Crypto Regulation

Coinbase CEO, Brian Armstrong addresses the ways in which he assumes Bitcoin and other important cryptos will be regulated. Check out the latest reports below.

As the online publication the Daily Hodl notes, Armstrong has a forecast for what the future regulatory landscape could look like for crypto.

During a new interview on the All-in Podcast, Armstrong says that the crypto industry will likely not be regulated solely by the U.S. Securities and Exchange Commission (SEC) because not all digital assets can be considered a security.

“Here’s what I’m realizing. Crypto is going to be many different things,” he began his message.

He continued and said: “It’s not just going to be one regulator doing it. Think about cryptocurrencies like Bitcoin. That’s pretty clearly a commodity. Or Ethereum. Many of these are commodities that probably should be regulated by the commodities [regulator], or the CFTC.”

He also explained that if people want to raise money for their company as security token, that should be regulated as a security by the SEC. Armstrong says that it would be great to have more clarity on that.

“Separately, there’s also some cryptocurrencies that are going to be currencies like stablecoins and maybe the Treasury should regulate those. Finally, there’s going to be cryptocurrencies that are none of the above. They’re artwork or something that probably shouldn’t even be regulated.”

It’s been revealed that one important crypto exchange Coinbase has announced that it is launching a beta version of its much-anticipated non-fungible token (NFT) marketplace.

The NFT scenery is growing with each passing day, and the popularity of this crypto sector is on the rise.

According to a new company blog post, the exchange stated that starting today, beta testers will be able to create a Coinbase NFT profile to buy, sell, and trade NFTs minted on Ethereum (ETH) using a crypto wallet.