Some crypto exchange bosses looked on with horror last week as Coinbase’s chief executive decided to accuse the Securities and Exchange Commission of “sketchy behaviour”. Others, however, applauded.
The Twitter salvo by Coinbase boss Brian Armstrong reflected rising anger among crypto entrepreneurs who argue regulators are holding back innovation, and have been too slow to offer clear rules for the nascent digital assets industry.
“Coinbase is fighting the good fight. If they lose . . . the SEC will get even more aggressive. They will draw the lines way into crypto territory,” said Alex Mashinsky, chief executive of crypto lending platform Celsius Network.
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