Brian Armstrong, CEO of Coinbase COIN/USD, has publicly stood up for cryptocurrency and Uniswap in the face of growing regulatory scrutiny from the SEC.
What Happened: Armstrong expressed his position on social media platform X on Tuesday. He quoted a post by Hayden Adam, Founder of the Uniswap Protocol, who had earlier disclosed that Uniswap Labs had been served a Wells notice from the SEC.
Armstrong also provided a link in his post to Stand with Crypto Alliance, an advocacy organization dedicated to mobilizing the crypto community for direct engagement in the legislative process.
Armstrong voiced his discontent with the SEC’s approach, accusing the regulatory body of targeting established entities like Coinbase and Uniswap while allegedly overlooking misconduct by other players. He called on the crypto community to unite against this regulatory challenge.
See Also: Can Dogecoin Flip Ripple? Here’s What It Would Take
In his post, Adam defended Uniswap’s operations, expressing his confidence in the legality of their products and their contribution to the financial industry. He also hinted at a potential protracted legal battle that could reach the Supreme Court.
Both Armstrong and Adam reiterated their commitment to continue their work in the crypto industry, despite the regulatory obstacles.
Why It Matters: Armstrong’s support for Uniswap and the crypto industry aligns with recent developments in the crypto space. In early March, former President Donald Trump expressed a neutral stance on Bitcoin BTC/USD and cryptocurrencies.
A new poll reveals that Trump is currently the top choice for U.S. voters who own cryptocurrencies.
Robert Kennedy Jr weighed on the debate about Bitcoin, claiming that congress members are being paid by BlackRock, JP Morgan, and "all the big globalist banking monopolies that are making money on inflation and making money by the Fed printing money."
U.S. Rep. Patrick McHenry (R-N.C.) urged the U.S. to lead Bitcoin innovation. These developments highlight the growing importance and acceptance of cryptocurrencies in the financial landscape.
Read Next: Renowned Trader ‘Bonk Guy’ Comments On Doge Day: ‘Imagine Being Sidelined On Dog Coins’
Image Via Shutterstock
Benzinga Neuro, Edited by Kaustubh Bagalkote
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
