Coinbase CEO Brian Armstrong has emphasized the importance of regulatory compliance in the wake of Binance’s recent troubles. In a statement on social media, Armstrong highlighted Coinbase’s commitment to compliance since its inception in 2012, stating that it was necessary to establish trust with customers and adhere to regulations. He noted that Binance’s issues validate Coinbase’s approach and present an opportunity for the industry to enter a new chapter. Binance recently agreed to a $4 billion settlement with U.S. authorities and its founder resigned as CEO after pleading guilty to money laundering charges. Armstrong called on U.S. authorities to create a regulatory environment that allows the industry to flourish domestically, rather than forcing Americans to use unregulated offshore exchanges. Coinbase’s Chief Legal Officer, Paul Grewal, echoed Armstrong’s sentiments, stating that legislation is crucial for consumer protection and fostering a responsible marketplace.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	positive
Relevance Score	1
People	Changpeng Zhao, Paul Grewal, Brian Armstrong
Companies	Commodity Futures Trading Commission (CFTC), Coinbase, Department of Justice, Binance
Currencies	None
Securities	None