Coinbase Chief Executive Brian Armstrong on Wednesday hit back at the U.S Securities and Exchange Commission (SEC) Chair over the agency's lawsuit against the crypto exchange, calling him an 'outlier,' while also reassuring customers that their funds were safe.
Brian Armstrong, CEO and Co-Founder of Coinbase, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/David SwansonChief Executive Brian Armstrong on Wednesday hit back at the U.S Securities and Exchange Commission Chair over the agency's lawsuit against the crypto exchange, calling him an "outlier," while also reassuring customers that their funds were safe.
"The SEC chair is really an outlier,” Armstrong said, adding that several lawmakers he had talked to were supportive of developing a clear regulatory framework for the technology.Spokespeople for the SEC and Gensler did not immediately respond to requests for comment. "In Coinbase’s case, for instance, there hasn’t been any allegation of misappropriation of customer funds. I haven’t been named personally," he added.
Coinbase has been pushing the SEC to formulate new crypto-specific regulations since last year and in April asked the U.S. Court of Appeals for the Third Circuitregulator to respond. That court on Tuesday ordered the SEC to provide a response within a week.
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