Amid the intensifying regulatory scrutiny of the crypto industry, regulators have turned their attention toward decentralized finance (DeFi) protocols, accusing several of them of operating without viable licenses. Following this, Coinbase CEO, Brain Armstrong has taken a stand encouraging the projects to take proper legal action against regulators
Coinbase CEO Champions Legal Resistance
On Wednesday, September 13, Brian Armstrong Co-Founder and Chief Executive Officer (CEO) of Coinbase, one of the world’s largest cryptocurrency exchanges took to X (formerly Twitter) and declared his adamant disapproval of the recent regulatory constraints imposed on DeFi protocols.
Armstrong has appealed to the projects to legally challenge regulatory actions of the United States Commodities and Futures Trading Commission (CFTC).
The Coinbase CEO argued that the CFTC should be prioritizing developing and enabling proper regulatory frameworks for the cryptocurrency industry and DeFi ecosystem ins
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