Armstrong has also become increasingly brash in the face of U.S. regulators’ effort to rein in the crypto industry. The SEC has long argued that most crypto tokens are securities, a category that includes assets such as stocks and bonds. Coinbase has called for U.S. regulators to draft clear rules for governing the crypto industry. In September, Coinbase brought in more than 50 crypto executives and entrepreneurs to Washington for what was billed as a grassroots campaign for crypto legislation. They warned lawmakers that America risks falling behind on innovation and losing jobs to other countries if it doesn’t soon enact clear rules for the crypto industry.

Source: Wall Street Journal January 15, 2024 11:34 UTC