Coinbase (COIN) CEO Brian Armstrong said that following the recent settlement between Binance and the U.S. Department of Justice, the industry can finally end the era of bad actors.
Speaking to CNBC International at the Global Investment Summit in London on Monday, Armstrong said: “There are certainly some bad actors in the cryptocurrency space, and I think our recent enforcement action against Binance gives us an opportunity to turn the page and close the door on cryptocurrency history. That chapter."
He also said that criminal enforcement actions against Binance and the once popular but now bankrupt cryptocurrency exchange FTX showed that moving operations overseas will not work.
“Sometimes it seems easy to grow quickly by circumventing the rules, but eventually it always comes back to reality,” he said, arguing that now is the time for U.S. companies that have followed regulations from the beginning to grow. (Coindesk)