“The era of regulatory clarity for cryptocurrencies has arrived,” said Brian Armstrong, CEO of Coinbase, under the gaze of world leaders gathering at the annual meeting of the World Economic Forum, which has been held since yesterday in Davos. , Swiss.
In this way, Armstrong expresses his optimism regarding the future that awaits the cryptocurrency industry in the United States. This is due to the change of administration after the arrival of President Donald Trump to the White House as the 47th president of the North American country. Thus, as director of the best-known digital asset exchange in that country, Armstrong anticipates a new era of regulatory clarity that could drive a wave of investments in the sector.
It is important to highlight that Coinbase was one of the cryptocurrency companies sued by the Securities and Exchange Commission (SEC), under the direction of Gary Gensler. The allegation centered on Coinbase operating an unregistered platform and violating securities laws. Both the company and the government agency later faced off in court after Coinbase sued the SEC for attempting to cripple the Bitcoin industry.
When giving an interview in DavosArmstrong said that the regulatory changes that will occur in the United States, during the coming months and years, will bring new investments to the world of cryptocurrencies. “The Trump effect cannot be denied,” Armstrong said. This is in relation to the phrase that Trump coined last year during his campaign, when he made at least 10 promises for the cryptocurrency sector and expressed that he wants to be the world’s first cryptoasset president.
That phrase for Armstrong has significant value and this is expressed when he points out: “For the leader of the country with the highest GDP in the world to undeniably come out and say that he wants to be the first crypto president, is priceless.”
Impact of politics on the cryptocurrency industry
Coinbase was also one of the companies that participated in Fairshake, the PAC or Political Action Committee that represents the interests of cryptocurrency advocates. The organized group put pressure on politicians to adopt more favorable positions towards bitcoin and the rest of the cryptocurrencies.
Now, with Trump in power and a Congress full of pro-cryptocurrency lawmakers, Armstrong sees a promising future for the industry. In fact, it revealed that approximately half of Fortune 500 companies are exploring pilots with digital assets, including major financial institutions, fintechs and neobanks.
Therefore, Armstrong’s vision for the future is clear: «This is a technology that will update the financial system worldwide, making it faster, cheaper and more efficient. “And the long-term impact of this is that it’s actually going to increase economic freedom in the world.” Therefore he applauds what he calls “the Trump effect on cryptocurrencies”, which at the end of the day is a bright future for the sector.
