brianarmstrong

In a direct critique of the SEC’s handling of crypto regulation, Coinbase CEO Brian Armstrong took to X to call for reform, urging the next SEC chair to abandon what he calls “frivolous cases” and apologize to the public. Armstrong’s frustration centers on what he sees as inconsistent regulations that have stifled innovation and driven uncertainty across the crypto space.

📉 Armstrong vs. Gensler: A Tense Relationship

With the U.S. elections just days away, Armstrong’s comments bring attention to the SEC’s approach under Chair Gary Gensler. Armstrong emphasized that SEC actions have created widespread confusion, citing contradictory stances on digital assets over the years—from labeling them as securities to shifting to a broader regulatory framework. The rift between the SEC and crypto firms like Coinbase and Binance continues to widen, as both have faced legal battles over alleged regulatory breaches.

🔄 Future at the SEC: Could Trump Shake Up the Commission?

If Donald Trump wins the upcoming election, major changes could be on the horizon. Speculation is rising around Gensler’s potential removal, with rumored replacements like Dan Gallagher or Hester Pierce (“Crypto Mom”) who have advocated for clearer and more supportive crypto regulations. Armstrong’s call for accountability and reform hints at the crypto industry’s hope for a new direction under future leadership.

A Call for Trust Restoration

Armstrong’s message resonates with a growing sentiment across the industry—calling for regulatory clarity and a cooperative stance from the SEC. Will these changes finally bring the clarity the crypto sector needs?

📌 Disclaimer: This article is for informational purposes and does not serve as financial or legal advice.

#brianarmstrong #SECCryptoAccounting #cryptoregulation #CPI_BTC_Watch

Coinbase CEO Brian Armstrong has sharply criticized the European Union, accusing it of using regulatory power to extract billions in fines from American tech companies. He claims that instead of fostering innovation and economic growth, the EU has turned regulation into a revenue-generating tool focused on punishment over progress.
In a post on X, Armstrong wrote:
“At some point, when enough regulation leads to fines, it borders on looting. You can have more fines from overregulation, or you can have a growing economy – but not both.”
His comments came in response to a statement by David Fant, founder of Agentic Godmode AI, who pointed out that the EU collected €3.8 billion in fines from U.S. companies in 2024 – more than the €3.2 billion paid in corporate income taxes by public European tech firms.

€3.8 Billion in Fines, More Than Tech Tax Revenue
According to Fant, the EU earned more from penalties levied against firms like Apple, Google, Meta, X, and TikTok than from their actual tax contributions in Europe. The fines included:
🔹 €400 million under GDPR privacy rules

🔹 €3.4 billion under antitrust regulations, the Digital Markets Act, and the Digital Services Act

U.S. Criticism: "EU Becoming a Revenue Tool"
American business leaders and politicians are increasingly warning that Europe’s digital regulatory regime is becoming a politicized tool of economic pressure. The latest flashpoint was a €120 million fine against Elon Musk’s X over allegedly misleading verification systems and lack of advertising transparency.
Elon Musk responded bluntly:
“The EU should be dissolved and sovereignty returned to individual countries.”
Several U.S. officials echoed Musk’s frustration. Senator Marco Rubio called the EU’s actions “an attack on all American tech platforms and the American people.” U.S. Ambassador to the EU Andrew Puzder accused Brussels of suppressing American innovation and warned that the U.S. expects “fair, open, and reciprocal trade – nothing less.”

EU Officials Defend Their Laws: “We Must Be Tough”
European lawmakers insist that strict enforcement is necessary to protect users and ensure fair competition.
Bas Eickhout, co-chair of the Green Party in the European Parliament, told POLITICO:
“The Commission must enforce the law with an iron fist, no matter how loudly U.S. officials protest. We are the only ones truly standing up to Big Tech.”
The recent fine against X marked the first official non-compliance ruling under the Digital Services Act, which came into effect shortly after Musk acquired Twitter in 2022.

Summary: Economy vs. Regulation?
Armstrong, Musk, and others argue that Europe is going too far, while the EU maintains that it's defending user rights and market fairness. The debate is rapidly escalating into a geopolitical clash between the U.S. and EU, with tech regulation becoming the new battleground for global influence.

#coinbase , #brianarmstrong , #CryptoNews , #ElonMusk , #AI

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