Brian Armstrong told why there is no support for Monero on Coinbase

Do repost and rate:

The head of the largest us cryptocurrency company Coinbase, Brian Armstrong, said that on a personal level, he would like to see Monero (XMR) listed, but the regulatory risks outweigh this desire.

In a conversation with the host of the podcast what Bitcoin Did, Peter McCormack, Armstrong noted that the authorities, although they do not officially declare it, do not welcome cryptocurrencies focused on increased privacy. This conclusion was made after meetings with regulators and based on an internal risk assessment conducted by the company.

"There were behind-the-scenes discussions where they often said, "We don't think you need to do this at all." We tried to clarify: "Are you saying that you don't like it or that you will sue us for it?» said the CEO of Coinbase.

According to Armstrong, legal disputes with regulators are an integral part of the financial services business, and COINBASE is ready for such discussions. However, this also involves high costs, and sometimes it is better to refrain from such disputes.

The CEO of Coinbase expects that over time, regulators will get used to the existence of anonymous coins. He drew Parallels with bitcoin, which today for them in a number of parameters is on a par with"General Electric shares as the most proven and authentic thing".

"Compared to other existing exchanges that have aggressive policies, we are more conservative. I want Coinbase to stand the test of time and not be shut down as a result of actions by the authorities or a series of events. I'm playing for the long term here, " Armstrong added.

Regulation and Society adoption

Ждем новостей

Нет новых страниц

Следующая новость