Coinbase Global Inc, a leading cryptocurrency company, has clarified that it has no plans to leave the United States, contrary to previous speculation. CEO Brian Armstrong confirmed that Coinbase will maintain a presence in the US and dismissed any notions of relocating overseas. In expressing his stance, Armstrong also criticized the Securities and Exchange Commission (SEC) for its regulatory ambiguity, which he believes is hindering the country’s progress in the crypto industry.
Armstrong specifically called out SEC Chair Gary Gensler for adopting an anti-crypto stance, characterizing the commission as an outlier in the regulatory landscape. He expressed concern over the lack of clarity and consistency in regulations, which he believes is impeding the development of the crypto space within the US.
This announcement comes shortly after Coinbase Global released its financial results for the first quarter, surpassing market expectations. The company’s stock has performed well, with a nearly 70% increase in value since the beginning of the year.
By reaffirming its commitment to maintaining a US presence, Coinbase aims to dispel rumors and instill confidence among its customers and investors. The company’s strong financial performance further bolsters its position as a prominent player in the crypto market.
