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Coinbase CEO says Congress is supportive but not the SEC

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Per Bloomberg InvestCoinbase has been the target of the SEC as it tries to sue the crypto exchange for allegedly listing unregistered securities. In an interview with Bloomberg Invest, CEO Brian Armstrong talked about how he thought that the SEC's actions didn't represent those of the whole government.Armstrong revealed that when he meets with members of Congress, "the broad consensus of probably among 80% of people" he talks with have what he described as a "reasonable view." He also noted that he talks to people from both sides of the aisle.The Coinbase CEO then shared how the people he talked with mostly had the same approach, which is although they don't know exactly where the technology would lead, it can be seen in other major financial hubs in the world that the next move would be toward clear legislation.Armstrong: "The SEC Chair may have a certain point of view but that's not representative of the whole US government."Recently, Coinbase was sued by the SEC over its staking program. The allegations noted that they operated as an unregistered exchange and border.In November, Coinbase CEO Brian Armstrong reportedly called for more crypto regulations to avoid the FTX situation. In an opinionated piece, Armstrong highlighted why crypto markets needed regulation.See flow at unusualwhales.com/flow.Other News:Coinbase sued by SEC over staking program, alleging it operated as an unregistered exchange and brokerCoinbase CEO Calls for More Crypto Regulation to Avoid FTX SituationResources:Bloomberg Invest

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