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Coinbase CEO stresses most important moment for crypto now
In a recent interview with CNBC from the White House yard, Brian Armstrong, the CEO of the largest U.S.-based cryptocurrency exchange, Coinbase, emphasized the significance of the passing of the Genius Act. The law acknowledges stablecoins as legal assets and establishes regulation for their circulation and usage.
Armstrong highlighted that this milestone marks the beginning of a financial revolution, emphasizing its importance and impact on the current financial system. He stated that it is crucial to upgrade the old financial infrastructure, specifically in the sphere of payments, making it more modern and efficient. Additionally, stablecoins will enable quicker and cheaper transactions worldwide.
Armstrong urged people to recognize the magnitude of this moment for the crypto industry, emphasizing that it represents a significant turning point. He underscored that “the job is not done yet” as Coinbase, alongside other major players in the space, aims to work with U.S. Congress to pass another crucial bill called Clarity.
Mastercard also praises the passage of the Genius Act and the dawn of a new era for stablecoins, according to Jesse McWaters, executive vice president at Mastercard.
Source: u.today
