Brian Armstrong, director of the US cryptocurrency exchange Coinbase, said that the US authorities had ignored the company's questions about cryptocurrencies.

He said that Coinbase representatives have met with Securities and Exchange Commission (SEC) officials 30 times over the past 18 months, but have never been able to get the officials to answer the question of what digital assets they categorize as securities.

The regulator has only made its position clear on bitcoin, saying that the coin is not a security.

Brian Armstrong

Instead of answers to their questions, in March 2023, Coinbase employees received a notice from the SEC about the agency's plans to penalize the exchange. And in June, the commission filed a lawsuit accusing the trading platform of illegally trading securities, which officials believe include Solana (SOL), Polygon (MATIC), Cardano (ADA) and several other coins.

Coinbase management did not admit guilt in the incriminated crime and noted that the cryptocurrencies presented on the site are not included in the list of securities.

According to him, the UK compares favorably with the US in the approach to the supervision of trading in digital assets and the interaction of cryptocompanies with the government. This is most likely because the country's Prime Minister Rishi Sunak supports the use of digital assets.

We have been working very productively with the Financial Services Authority in the UK. It is good to have one federal agency overseeing the sale of goods and securities.

In this case, there are no problems like in the US, where the Commodity Futures Trading Commission and the Securities and Exchange Commission fight each other for the right to regulate the circulation of assets," Brian said.