Coinbase CEO Calls for Regulatory Clarity

Brian Armstrong, the CEO of major U.S. crypto exchange Coinbase Global Inc, has warned that without clear regulations, crypto firms may develop 'offshore'. Armstrong made these remarks during a conference in London, highlighting the need for regulatory clarity in 'onshore' locations such as the United Kingdom and the United States.

Armstrong's comments come in the wake of the collapse of the Bahamas-based FTX exchange last year. He emphasized that the failure of such firms underscores the importance of having clear legislation and regulation onshore. If the UK and the US fail to provide this clarity, crypto firms will likely be built in offshore havens, he cautioned.