Coinbase CEO: Washington Must Address Trump's Crypto Interests

Dow Jones08-21 02:47

1447 ET - The chief of Coinbase says it will be up to Congress and the White House to solve the large looming ethics question about the Trump family's financial interest in bolstering the crypto industry. The president has offered to put language in the Clarity Act, crypto-friendly legislation that Trump supports but has stalled in Congress, that would address some of the open ethical issues at hand, Coinbase CEO Brian Armstrong tells CNBC. Among potential solves are the president moving his funds into a blind trust. But the ethical challenges shouldn't derail the Clarity Act, Armstrong says. "We should not leave the status quo and leave Americans unprotected in a morass of state legislation to operate in the U.S., that's just going to ensure this all goes offshore."

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The president has offered to put language in the Clarity Act, crypto-friendly legislation that Trump supports but has stalled in Congress, that would address some of the open ethical issues at hand, Coinbase CEO Brian Armstrong tells CNBC. Among potential solves are the president moving his funds into a blind trust. 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The president has offered to put language in the Clarity Act, crypto-friendly legislation that Trump supports but has stalled in Congress, that would address some of the open ethical issues at hand, Coinbase CEO Brian Armstrong tells CNBC. Among potential solves are the president moving his funds into a blind trust. 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