Warnings of banning cryptocurrencies in the United States

Coinbase CEO Brian Armstrong has warned, in a tweet via his official Twitter account, that the US Securities and Exchange Commission (SEC) may ban cryptocurrency trading in the US.

Brian Armstrong said he has heard rumors that the SEC is planning to ban cryptocurrency trading entirely for retail investors, adding that he hoped that would not be the case, because that would be a terrible road for the United States if it allowed that to happen.

And the CEO of Coinbase continued in his tweet that regulation by coercion does not work, especially as it encourages companies to work without a regulatory framework, which is what happened with the FTX digital platform, calling for the need to work together to publish clear rules for the industry, and to reach reasonable solutions. Protects consumers while preserving innovation and the national security interests of the United States.

It is worth noting that the American investor and vice-chairman of Berkshire Hathaway, Charlie Munger, had previously stressed the need for the United States to impose a total ban on various digital currencies similar to the Chinese ban imposed on them in light of the lack of regulations governing them.

Monger explained that digital currencies are not currencies, commodities, or assets, but they are used for gambling, and they must be banned, as they are traded publicly by thousands without any government regulation, and many digital currencies are sold to some people for a low price, then they promote them, and after It is bought by citizens at very high prices.


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