#Coinbase Regulatory Controversy#

Coinbase has recently faced regulatory controversy, sparking industry discussions on cryptocurrency regulation. CryptoQuant CEO Ki Young Ju believes that over-regulating Coinbase would miss the essence of cryptocurrency, pointing out that self-regulation based on customer trust is more suitable for the crypto world. He cites Binance as an example, highlighting its global success due to its self-regulatory model. Previously, Nansen CEO Alex Svanevik had also criticized Coinbase's user experience, accusing it of having numerous issues, such as a cumbersome withdrawal process, random account closures, and slow withdrawal speeds. Coinbase CEO Brian Armstrong is optimistic about the future of cryptocurrency, believing that Bitcoin can effectively counterbalance deficit spending and inflation, and provide a safe haven for people. He also predicts a long-term surge in Bitcoin prices to millions of dollars, noting that multiple finance ministers are showing increasing interest in holding Bitcoin. Armstrong also mentioned the possibility of the US clarifying cryptocurrency regulations and including Bitcoin in its strategic reserves, believing this would drive Bitcoin prices up. Overall, the Coinbase regulatory controversy has sparked industry reflection on cryptocurrency regulation, while also reflecting the development trend and future potential of the cryptocurrency market.