Fianne

The game feels a bit more fair today. The last 12 months have answered 2 nagging questions from shareholders: 1. How are they going so fast? 2. How are they getting away with it? "Trust me, any day now..." is only believable for so many years. It's hard to keep faith while your market share dwindles and the only enforcement that's happening is against the good guys. Fortunately, we have very long-term oriented shareholders who understand that this holy mission is a marathon, and that we must lead by example. Unfortunately, many of our like-minded, responsible peers perished while waiting for justice to arrive. For them, there is no solace. New threats to the industry's reputation continue to emerge. Each dodgy operation represents an opportunity for governments to scapegoat crypto and tighten the noose. We clearly cannot count on timely protection. We have to self-police. People have asked how they can support the various fights against government overreach. The easiest thing you can do is use and refer people to the services which are engaged in these fights (like @krakenfx), which are playing the long game, and are being good examples for the industry. They may not offer 0-KYC accounts and the most exotic products but you will be contributing to the longevity of the industry rather than yet another avoidable, collective black eye.

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Kris

@kris

almost 3 years ago

It’s great to see a major overhang removed — bodes extremely well for the market. Looking forward to the next chapter of its development, led by companies with the required regulatory setup.

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Brian Armstrong

@brian_armstrong

almost 3 years ago

Since the founding of Coinbase back in 2012 we have taken a long-term view. I knew we needed to embrace compliance to become a generational company that stood the test of time. We got the licenses, hired the compliance and legal teams, and made it clear our brand was about trust with our customers and following the rules. We wanted to increase transparency and raise the bar on trust, so we became a public company in 2021. This meant we couldn't always move as quickly as others. It's more difficult and expensive to take a compliant approach. You can't launch every product that customers want when it’s illegal. But it's the right approach because we believe in rule of law. Today's news reinforces that doing it the hard way was the right decision. We now have an opportunity to start a new chapter for this industry. We took a lot of arrows operating here in the U.S. due to the lack of regulatory clarity, and my hope is that today's news serves as a catalyst to finally achieve that. Americans should not have to go to offshore unregulated exchanges to benefit from this technology. This industry should be built right here in America, in a compliant way, under U.S. law. We're going to stay here in the U.S. because we believe in economic freedom and that the U.S. democratic system will eventually get this right. Decentralization and crypto is a powerful tool to update the financial system and build a global economy with more economic freedom. We're just getting started 🚀

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