Coinbase (COIN) is lobbying Congress to establish clear regulations for the crypto industry. According to Coinbase CEO Brian Armstrong, there needs to be defined rules put in place by lawmakers rather than leaving regulation solely up to the Securities and Exchange Commission. Armstrong criticized the SEC's current approach of "regulation by enforcement", where crypto startups receive subpoenas without transparent guidelines, referring to it as "harassment." By pushing for legislative action, Coinbase aims to bring more clarity and certainty to the crypto space. “I think there is a general consensus and understanding from both sides of the aisle that this is an important issue,” Armstrong tells Yahoo Finance adding, "in five years we'll be thinking how do we get this back on shore if we don't do something now." Click here to see the full interview with Coinbase CEO Brian Armstrong. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
In the latest trading session, Coinbase Global, Inc. (COIN) closed at $71.52, marking a +1.42% move from the previous day.
Robinhood Markets, NVIDIA, Visa and Coinbase Global are part of the Zacks top Analyst Blog.