For Brian Armstrong the US is the best country in the world for crypto
For Brian Armstrong the US is the best country in the world for crypto
Crypto

For Brian Armstrong the US is the best country in the world for crypto

By Marco Cavicchioli - 10 Sep 2021

Chevron down
Listen this article
download

Coinbase co-founder and CEO Brian Armstrong believes that the US is the best country in the world to be innovating in the crypto sector.

US innovation and future with cryptocurrencies in the country

He wrote this in a recent tweet in which he quoted a critique by Sam Altman of US policy towards cryptocurrencies.

Altman argues how it seems surreal to watch how a negative policy towards cryptocurrencies can take this innovation out of the US, despite this being the best country in the world to build an innovative future. He added:

“And American citizens (and voters!) overwhelmingly want it”.

For the past few months, US politics has also been dealing with cryptocurrencies, specifically on one side to try to collect more taxes, and on the other, to try to regulate them as much as possible.

The SEC, which is not a political but a technical body, would like to regulate something as non-regulatable as DeFi.

There are several initiatives in place that could limit the innovative power of cryptocurrencies in the US, despite the fact that a lot is already being done in this field in the US itself.

Coinbase itself, with its IPO in April, has shown that the crypto sector is now ready for the mainstream, and especially to enter fully within the regulatory enclosure in which traditional financial companies also operate.

According to Coinbase CEO, US are the best place in the world for crypto sector.

Interstate competition and the example of Ukraine

Brian Armstrong is not objective when he defines “his” United States as the best place in the world to make innovation in the crypto sector, but it is still very difficult to completely wrong him, also by virtue of the fact that US financial markets are the most developed and important in the world.

This is a real competition between states, that is between those who are trying to ride these innovations (such as Ukraine), and those who are still skeptical, reluctant, or even contrary, such as Russia.

Among the former we can include the US, while among the latter China, and this could be the ground for an epic confrontation between superpowers.

In addition to El Salvador, the Seychelles seems to have joined the group of favorable countries with an initiative to legalize crypto exchanges, while the central banks of Sweden and Mexico seem to have joined the group of skeptics.

Creating freedom of movement on citizens’ savings

It is necessary to distinguish not only between banks and governments, which are not always aligned, but also between the same governments and the population, since for example in Russia, where banks and governments are against, the citizens seem to be definitely in favor, given the use they already make of cryptocurrencies.

From this point of view, the most striking example is Nigeria, where in front of a strong increase in the use of cryptocurrencies, the authorities continue to be skeptical and try in vain to oppose them.

Brian Armstrong is right when he says that citizen voters, particularly in the US, support the use of these much freer forms of value movement than traditional fiat currencies.

Perhaps only those who do not want citizens to have such freedoms are against their mass adoption. It is hardly surprising that governments and central banks are not in favor of giving their own citizens greater freedoms in the use of their money.

 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.