Coinbase (NASDAQ:COIN) CEO Brian Armstrong is holding firm Tuesday in a legal battle with the Securities and Exchange Commission expressing his determination to "get the job done" in the face of the regulatory agency's lawsuit.
Armstrong responded to the SEC complaint filed against Coinbase in a tweet, asserting that his company is ready to go to court to gain clarity on regulations around cryptocurrencies.
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Armstrong's Response To SEC: The SEC previously reviewed Coinbase's business and approved its public listing in 2021, the CEO said.
He also mentioned Coinbase's multiple attempts to "come in and register," stating that due to the lack of a clear path to do so, Coinbase refrains from listing securities, rejecting the majority of the assets it reviews.
Armstrong drew attention to what he said are contradictory statements made by the SEC and the Commodity Futures Trading Commission, highlighting the apparent lack of agreement between the two regulatory bodies on the definitions of security and commodity.
Also Read: Goldman Sachs Examines Bitcoin And Ether 'Profit-Taking,' On-Chain Metrics In May
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The ongoing ambiguity has led to the introduction of new legislation by the U.S. Congress aiming to resolve these issues, reflecting a global trend toward the establishment of clear rules to support this evolving technology.
Armstrong criticized the SEC for what he said is its "regulation by enforcement" approach, arguing that it is damaging to America.
He voiced Coinbase's readiness to turn to the courts for the clarity needed to navigate this complex regulatory environment.
'We'll Get The Job Done': Armstrong noted the unique nature of the lawsuit against Coinbase, which he said is solely focused on the definition of security, and he expressed confidence in both the facts of the case and the law.
Armstrong concluded his remarks with a note of defiance and determination, saying: "We'll get the job done."
He called on the industry to continue innovating and assured that America will eventually come to the right conclusion on this issue.
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