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In a recent interview with local media, Coinbase CEO Brian Armstrong expressed positiveness about the crypto industry’s future amid recent Binance’s historic record<a href="https://news.todayq.com/report-binance-to-settle-for-4-billion-with-u-s-doj-bnb-up-8/"> $4 billion settlement </a>with the U.S. Department of Justice. Armstrong sees this enforcement action as an opportunity to turn the page on a chapter of scandals and problems that have plagued the industry. Regulatory clarity key for industry growth 
The settlement involved Binance founder and<a href="https://news.todayq.com/cz-resigns-as-binance-ceo-in-4-billion-settlement-with-u-s-doj/"> CEO Changpeng Zhao stepping down</a> and pleading guilty to money laundering violations, with the government accusing Binance of violating the U.S. Bank Secrecy Act and breaching sanctions on Iran. 
Armstrong highlighted the importance of regulatory clarity for the crypto industry, stating that it would attract more investment, particularly from institutions. He also acknowledged that while some bad actors exist in this rapidly surging crypto landscape, illicit activities in crypto account for less than 1%, differing it from the higher instances of illicit uses of cash. 
During his visit to the U.K. for the Global Investment Summit, Armstrong highlighted the positive leadership of U.K. Prime Minister Rishi Sunak in the<a href="https://news.todayq.com/uk-passes-game-changing-crypto-regulation-bill-2023/"> digital currency space</a>. Coinbase was the only crypto company invited to the summit, which Armstrong considered an endorsement for the company, if not necessarily for the broader industry. Coinbase CEO: U.K.’s positive approach to digital currencies 
Armstrong expressed being “impressed” with the U.K.’s efforts to <a href="https://news.todayq.com/uks-financial-watchdog-reveals-blueprint-for-fund-tokenization/">regulate digital assets</a>, aligning with the country’s push to bring cryptocurrencies and stablecoins under regulatory oversight. Coinbase, he noted, is actively investing more in the U.K. 
Regarding Coinbase’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), Armstrong expressed confidence in the company’s chances of success. He disputed the notion that the SEC’s actions forced Coinbase to move offshore, emphasizing the company’s continued investment in its home market. 
© Todayq News

Coinbase CEO spots opportunity post CZ’s Binance exit

Todayq News

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