Golden Finance reported that Brian Armstrong, the CEO of Coinbase, recently spoke out, expressing high recognition of the impact that Trump has brought to the crypto industry and calling for bringing cryptocurrency trading, innovation activities and related job opportunities back to the United States.
During Trump’s administration, he was very active in the field of cryptocurrencies. On March 3 local time, Trump announced the advancement of the strategic reserve plan for cryptocurrencies, aiming to incorporate mainstream cryptocurrencies such as Bitcoin and Ethereum into the national reserve framework. On March 6th, he signed an executive order to establish a strategic Bitcoin reserve, and the next day, he presided over the first-ever cryptocurrency summit in US history at the White House. At the summit, Trump clearly stated that the federal government would support the development of the cryptocurrency and digital asset market represented by Bitcoin, and also promised to push Congress to pass the stablecoin and digital asset framework bill.
Brian Armstrong believes that a series of measures taken by Trump have ushered in a brand-new era for the crypto industry. Over the past few years, the U.S. Securities and Exchange Commission (SEC) during the Biden administration has taken a tough stance against cryptocurrency companies. SEC Chair Gary Gensler believes that many cryptocurrency companies have violated securities laws, which has led to lawsuits against numerous virtual currency companies, including Coinbase. This has restricted the development of the crypto industry and caused great distress to many enterprises. After Trump was elected, there was a 180-degree shift in the policy direction. He appointed David Sachs, the former chief operating officer of PayPal and a venture capitalist, as the head of cryptocurrency policy, responsible for formulating the legal framework for the industry’s regulation. He also promoted Hester Pierce, a pro-cryptocurrency commissioner in the SEC, to lead the SEC’s cryptocurrency task force. Subsequently, many law enforcement actions against the cryptocurrency industry, including the case against Coinbase, were dropped.
Inspired by Trump’s policies, Brian Armstrong called on the global crypto industry to re-examine the US market. He pointed out that the United States, with its profound financial background, abundant technical talent resources and huge potential market, should naturally become the core development area of the crypto industry. As a leading enterprise in the industry, Coinbase is willing to play a leading role, driving more transactions, innovations and job opportunities back to the United States, and helping the United States regain its leading position in the global cryptocurrency competition. Currently, Coinbase is actively preparing for relevant matters, hoping to blaze a feasible trail for the industry’s return to the United States first under the new policy environment.
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