Brian Armstrong, Co-Founder & CEO of Coinbase Global (NASDAQ:COIN), highlighted that one of the greatest obstacles that needs to be addressed for the crypto universe is clear regulation for the en

According to Armstrong, that would give everyone an equal landscape which in turn would then provide a huge capital influx to the crypto space.

Coinbase (NASDAQ:COIN) CEO Brian Armstrong has stated that clear crypto regulation in the US will lead to a massive capital influx into the industry.

Speaking at the Goldman Sachs Communacopia + Technology conference, Armstrong highlighted the need for clear crypto regulation in the US, stating that it would level the playing field for everyone and lead to a massive capital influx into the crypto space.

Armstrong pointed to the example of Europe and other G20 nations that have already implemented crypto legislation or are working on it, adding that the US cannot afford to wait much longer.

“America is going to eventually get this right because the rest of the G20 have already moved down this path, most of them already either have legislation passed or it’s currently being worked on and so America can’t afford to wait too much longer,” Armstrong said.

Armstrong also noted that crypto has become a major focus point for political figures in Washington, with some candidates making it a core part of their platform.

“Some candidates are making it a core part of their platform, which I think is interesting to see how it plays out in the upcoming election,” Armstrong added.

According to the Coinbase (COIN) CEO, any adoption in legislation will be a good sign for the industry, just like we saw with the growth of ETFs around Bitcoin (BTC-USD).

Armstrong’s comments come as Alesia Haas, CFO of Coinbase (COIN), stated that for future costs to come down in the crypto space, crypto first needs to become fully commoditized and adopted by all players.

“I do not yet think crypto is commoditized. I think that we will not see spread compression until you get to crypto being adopted by every bank, every FinTech in the ecosystem, and then you drive commoditization, in which case, then you’ll start to see fee compression,” Haas said.

Coinbase Global (NASDAQ:COIN) price action: +98.3% over a 1-year period, -12.9% year-to-date, -40.1% over the past 6-months, and -19.5% over the past 1-month.

Bitcoin Backed ETFs: (IBIT), (ARKB), (GBTC), (BRRR), (BTCO), (HODL), (BTCW), (FBTC), (BITB), (EZBC)

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