Topic: Coinbase CEO asks UK to slow down on Crypto Regulations - lift bank bans (Read 117 times)
April 19, 2023, 02:27:53 PM
When you have a voice when you're a bigger person like Brian. Well, that does makes sense if he's planning or up with something like expanding their operations within that region. I'm not familiar with UK's approach with crypto but if that concerns him a lot then there's probably an obstacle that stops or delays something from his business perspective and that's why he has alerted the UK government about his opinion to slow down and lift the ban on specific crypto related matter. We saw how these governments are too strict with crypto services and companies and the first one to see it was with Binance.
April 19, 2023, 02:18:23 PM
What I think Brian Armstrong did is try to find a cash cover for his foundation after the tightening of regulatory restrictions in the United States.
The problem of Brian Armstrong and Coinbase is that they need funds to maintain their stablecoin USDC, and therefore there must be bank accounts and financial flows to support them and support liquidity, and therefore he is trying to find a new headquarters, and it seems that his message is an attempt to sympathize with the United Kingdom, especially with the economic problems in that country.
In general, Coinbase in terms of guaranteeing customer funds are better than Binance, and perhaps the best currently, so I can consider it good news
I would say that it is a bit more clear at least, that's the difference. I can't say if they are protecting it better or not, I am not familiar with that, I would have to be inside on both of them to check how they do it in order to compare the two.The problem of Brian Armstrong and Coinbase is that they need funds to maintain their stablecoin USDC, and therefore there must be bank accounts and financial flows to support them and support liquidity, and therefore he is trying to find a new headquarters, and it seems that his message is an attempt to sympathize with the United Kingdom, especially with the economic problems in that country.
In general, Coinbase in terms of guaranteeing customer funds are better than Binance, and perhaps the best currently, so I can consider it good news
But, I know for a fact what coinbase does and I have no idea what binance does, so that means that Coinbase is clearly the winner on which one is more transparent with your money and not doing anything worrisome. I am not saying binance does, all I am saying is that I do not know if they do or not, maybe they do or maybe they don't however at the end of the day it's just a thing that we have to live with. I personally hope that it gets better and clearer for binance as well.
April 19, 2023, 09:02:15 AM
Brian Armstrong says, UK and Europe could take it slow on the crypto regulations and have proper framework so that it can become center for the eased crypto regulations. Considering what is up in the USA, that is bans, SEC getting stricter about various exchangers, failed crypto associated banking and what not.
If he's serious, better to not talk only, but do it for action. Brian Armstrong has a lot of money to pay someone or the community to compose a law draft and submit it to the Senate. it's not difficult for him. because he has everything, but again, many popular person is only talking on media to get just popularity, it's not really him, it's just for his business, it's the same as Elon, Saylor and etc.As the CEO of a business, everything he does can cost his business dearly. So there's no reason for him to take action and spend money on it. If the plan succeeds, many of his opponents benefit as well and without effort, but if the plan fails, he will pay the price with his career. I don't think anyone would have the guts to do such a stupid thing, not just Brian Armstrong. Personal interests still have to come first, if in his position, we would do the same.
April 19, 2023, 08:02:33 AM
I'm not ready to praise anyone in this crypto world especially those in power, or centralized exchanges I am watching you guys, Brain or Brian is in a position to direct more attention to his business and company.
I don't see anything else here than another power hungry centralized shit, do you know that there was a time when This Brian was craving for a faster regulation for crypto? I don't like this type of people that don't stay on a single vision, it's all a game to them it seems. I won't be surprised if this man is even up to something right now, I'm wondering what he is trying to gain from a slower regulation now.
I don't see anything else here than another power hungry centralized shit, do you know that there was a time when This Brian was craving for a faster regulation for crypto? I don't like this type of people that don't stay on a single vision, it's all a game to them it seems. I won't be surprised if this man is even up to something right now, I'm wondering what he is trying to gain from a slower regulation now.
April 19, 2023, 06:29:31 AM
What I think Brian Armstrong did is try to find a cash cover for his foundation after the tightening of regulatory restrictions in the United States.
The problem of Brian Armstrong and Coinbase is that they need funds to maintain their stablecoin USDC, and therefore there must be bank accounts and financial flows to support them and support liquidity, and therefore he is trying to find a new headquarters, and it seems that his message is an attempt to sympathize with the United Kingdom, especially with the economic problems in that country.
In general, Coinbase in terms of guaranteeing customer funds are better than Binance, and perhaps the best currently, so I can consider it good news
The problem of Brian Armstrong and Coinbase is that they need funds to maintain their stablecoin USDC, and therefore there must be bank accounts and financial flows to support them and support liquidity, and therefore he is trying to find a new headquarters, and it seems that his message is an attempt to sympathize with the United Kingdom, especially with the economic problems in that country.
In general, Coinbase in terms of guaranteeing customer funds are better than Binance, and perhaps the best currently, so I can consider it good news
April 19, 2023, 05:44:44 AM
~snip~
I think that some of those guys have lived too much in their own world and they don't realize that a lot of every country's economy doesn't care a bit about web 2.0, web 3.0, and the rest of the numbers till one quadrillion. 9 years have passed since this so-called revolution of digital assets should have started as a lot of guys including Armstrong cheered alongside Gavin and they aren't making a dent in the real economy, it has been restricted to a parallel universe where people trade coins and lose money in shitty projects and nothing else, in short vaporware.
I think that some of those guys have lived too much in their own world and they don't realize that a lot of every country's economy doesn't care a bit about web 2.0, web 3.0, and the rest of the numbers till one quadrillion. 9 years have passed since this so-called revolution of digital assets should have started as a lot of guys including Armstrong cheered alongside Gavin and they aren't making a dent in the real economy, it has been restricted to a parallel universe where people trade coins and lose money in shitty projects and nothing else, in short vaporware.
Considering the statements that the person in question made yesterday or today, it seems that his company could be looking for a new headquarters, and he is obviously targeting the UK or the EU in that case. But it seems to me that considering everything that is happening in this part of the world, that job would not be worth it, especially in the UK, which in many respects aligns itself with its "brothers" on the other side of the big pond.
Be that as it may, the worst scenario would really be that one CEX that provides services in the US and one of the most famous stops doing business on that market. Not that I care about CEX or its CEO, but the US has centralized Bitcoin too much in every sense, and anything bad that happens there will significantly affect the rest of the world.
April 19, 2023, 01:32:59 AM
It is not wrong to say that south east asia will become the cryptocurrency powerhouse in the future. While developed countries like UK and US are resisting crypto development, countries like Singapore and Hong Kong are gearing up to adopt crypto and providing a very favourable business regulations.
So if UK and US continue doing what they are doing with crypto businesses, they will soon become irrelevant in ever-changing global business landscape.
Building a solid structure that helps to protect cryptocurrency investors from fraudulent exchanges and business will be viable for the growth of the sector. But if the UK government insists on strict regulation of the crypto space, then investors will move to other countries that a welcoming. The fall of exchanges should not be the reason for this unfriendly posture of these governments because you cannot generalize that all of them have fraudulent intentions. Africa would have been a viable crypto investment hub but most of them still take orders from their anti-bitcoin former colonial masters. So if UK and US continue doing what they are doing with crypto businesses, they will soon become irrelevant in ever-changing global business landscape.
April 19, 2023, 01:03:12 AM
It is not wrong to say that south east asia will become the cryptocurrency powerhouse in the future. While developed countries like UK and US are resisting crypto development, countries like Singapore and Hong Kong are gearing up to adopt crypto and providing a very favourable business regulations.
So if UK and US continue doing what they are doing with crypto businesses, they will soon become irrelevant in ever-changing global business landscape.
So if UK and US continue doing what they are doing with crypto businesses, they will soon become irrelevant in ever-changing global business landscape.
April 18, 2023, 11:24:01 PM
Brian Armstrong says, UK and Europe could take it slow on the crypto regulations and have proper framework so that it can become center for the eased crypto regulations. Considering what is up in the USA, that is bans, SEC getting stricter about various exchangers, failed crypto associated banking and what not.
If he's serious, better to not talk only, but do it for action. Brian Armstrong has a lot of money to pay someone or the community to compose a law draft and submit it to the Senate. it's not difficult for him. because he has everything, but again, many popular person is only talking on media to get just popularity, it's not really him, it's just for his business, it's the same as Elon, Saylor and etc. 
April 18, 2023, 11:50:56 AM
Brian Armstrong says, UK and Europe could take it slow on the crypto regulations and have proper framework so that it can become center for the eased crypto regulations.
Coinbase when it needs access to markets and to let investors buy coins :
- We need regulations as soon as possible, we need ways for people to invest, SEC do something fast!!
Coinbase when it needs to follow the regulations by the book:
- Why so many regulations, we need to take it slow, why so many rules, we're going to the EU&UK!
Coinbase when the UK turns out to be just as strict:
- Please let us alone, we just need to earn money!!
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Tomorrow, Tuesday April 18, Coinbase CEO Brian Armstrong is set to be a headliner at UK Fintech Week, an example of just how seriously we are working in the region. Some 22% of UK adults currently own cryptocurrency, with 28% likely to buy or trade crypto in the next 12 months.
I don't know what others think but every 1/4 adult in the UK owning crypto right now and 1/2 of them doing so in 12 months sounds like he's pulling those numbers out of his you know what.
Also, look what he wishes for, stablecoins:
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Deliver a regulatory framework that promotes stablecoins. Stablecoins are the entry point to digital finance and promoting the development of sterling-denominated stablecoins, in conjunction with other new forms of money (e.g. CBDC), plus allowing issuers to deposit cash reserves at the Bank of England, would put the UK on the map
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Put Web3 and blockchain at the heart of government, with a cross departmental strategy that capitalises on the next wave of tech innovation and digitisation of the economy. Doing so will create a bigger, fairer and more digital economy, and boost UK competitiveness
I think that some of those guys have lived too much in their own world and they don't realize that a lot of every country's economy doesn't care a bit about web 2.0, web 3.0, and the rest of the numbers till one quadrillion. 9 years have passed since this so-called revolution of digital assets should have started as a lot of guys including Armstrong cheered alongside Gavin and they aren't making a dent in the real economy, it has been restricted to a parallel universe where people trade coins and lose money in shitty projects and nothing else, in short vaporware.
April 18, 2023, 11:25:14 AM
It's interesting to hear Brian Armstrong suggest that the UK and Europe should take a relaxed approach to crypto regulations, considering the numerous issues that have plagued the industry. While it's important to foster innovation, it's equally crucial to protect consumers and investors from fraud, hacks, and scams.
It's alarming that Armstrong thinks that becoming a center for eased crypto regulations would be beneficial. This would attract unsavory individuals and organizations looking to exploit the lack of oversight. It's essential to create a robust regulatory framework to prevent the crypto industry from becoming a haven for illegal activities.
Regarding the web3 applications being explored by the UK's financial task force, it's critical to ensure that these projects are genuinely intended for societal betterment and not just a means to jump on the crypto hype train.
While innovation is undoubtedly necessary for progress, it must be balanced with a responsible approach to regulation to ensure that the benefits of the crypto industry are realized without causing harm.
It's alarming that Armstrong thinks that becoming a center for eased crypto regulations would be beneficial. This would attract unsavory individuals and organizations looking to exploit the lack of oversight. It's essential to create a robust regulatory framework to prevent the crypto industry from becoming a haven for illegal activities.
Regarding the web3 applications being explored by the UK's financial task force, it's critical to ensure that these projects are genuinely intended for societal betterment and not just a means to jump on the crypto hype train.
While innovation is undoubtedly necessary for progress, it must be balanced with a responsible approach to regulation to ensure that the benefits of the crypto industry are realized without causing harm.
April 18, 2023, 11:11:13 AM
Brian Armstrong says, UK and Europe could take it slow on the crypto regulations and have proper framework so that it can become center for the eased crypto regulations. Considering what is up in the USA, that is bans, SEC getting stricter about various exchangers, failed crypto associated banking and what not.
Brian thinks, its an opportunity for the developed regions like UK to up lift the blanket bans from the crypto purchasing and trading.
In his tweet, Brian portrayed himself alongside the UK for building up the framework that would help them shape the up coming crypto infra. For example, Sky news reportedly stated that Financial Taskforce in UK is exploring various blockchain based projects specifically web3 application within the country. This is in the hope that it will boost the fund industry and other benefits.
Europeans are actually all set to caste a vote in the upcoming Markets in the Crypto Assets (MiCA). This can up lift crypto regulations to the positive side of balance.
UK ‘Moving Fast’ on Crypto Regulations, Says Coinbase CEO
Brian thinks, its an opportunity for the developed regions like UK to up lift the blanket bans from the crypto purchasing and trading.
In his tweet, Brian portrayed himself alongside the UK for building up the framework that would help them shape the up coming crypto infra. For example, Sky news reportedly stated that Financial Taskforce in UK is exploring various blockchain based projects specifically web3 application within the country. This is in the hope that it will boost the fund industry and other benefits.
Europeans are actually all set to caste a vote in the upcoming Markets in the Crypto Assets (MiCA). This can up lift crypto regulations to the positive side of balance.
Quote
Coinbase’s CEO Brian Armstrong appears as bullish as ever on crypto regulations in the UK.
“The UK is moving fast on sensible crypto regulation to both drive economic growth AND consumer protection,” he said in a tweet picturing himself alongside the UK’s Economic Secretary and City Minster Andrew Griffith. “Excited to keep investing in the UK.”
The crypto exec also took the occasion to boost a bit of thought leadership from the exchange, which describes the UK as a “Web3 innovation hub.”
Griffith, for his part, has reportedly revived a body called the Asset Management Taskforce.
Sky News reported that the body will be investigating how to deploy blockchain technology across the fund management industry, among other objectives.
Coinbase has also provided nine recommendations that would cement the "UK as a leader in the sector."
These recommendations included ensuring that banks remove blanket bans on purchasing crypto, establish a good regulatory framework, and to set out a plan to bring decentralized ID into fruition.
The post also read that “things are happening in Europe that are edging the region ahead when it comes to embracing the digital economy,” citing the upcoming Markets in Crypto Assets (MiCA) regulations up for vote this week.
“The UK is moving fast on sensible crypto regulation to both drive economic growth AND consumer protection,” he said in a tweet picturing himself alongside the UK’s Economic Secretary and City Minster Andrew Griffith. “Excited to keep investing in the UK.”
The crypto exec also took the occasion to boost a bit of thought leadership from the exchange, which describes the UK as a “Web3 innovation hub.”
Griffith, for his part, has reportedly revived a body called the Asset Management Taskforce.
Sky News reported that the body will be investigating how to deploy blockchain technology across the fund management industry, among other objectives.
Coinbase has also provided nine recommendations that would cement the "UK as a leader in the sector."
These recommendations included ensuring that banks remove blanket bans on purchasing crypto, establish a good regulatory framework, and to set out a plan to bring decentralized ID into fruition.
The post also read that “things are happening in Europe that are edging the region ahead when it comes to embracing the digital economy,” citing the upcoming Markets in Crypto Assets (MiCA) regulations up for vote this week.
UK ‘Moving Fast’ on Crypto Regulations, Says Coinbase CEO
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