Cointime

Cointime

Download App
iOS & Android
Home / Point

Coinbase CEO Warns of China's Digital Payment Industry Challenging US Crypto Industry

Coinbase CEO Brian Armstrong has warned that the US crypto industry faces a strong challenge from China's digital payment industry. Armstrong noted that China's Alipay and Tencent offer integrated payment systems and are rapidly scaling worldwide, with its social credit system baked in.

He also highlighted the digital yuan, which he believes is intended to directly challenge the US dollar. Armstrong urged regulators to create rules that will produce a strong and competitive US crypto industry.

Coinbase Brian Armstrong
Comments

All Comments

Recommended for you

  • U.S. House of Representatives: Agreement on stablecoin regulation will soon be reached with the Chairman of the Financial Services Committee

    Maxine Waters, the Democratic leader of the US Financial Services Committee, predicted on Wednesday that she and Chairman Patrick McHenry will soon reach an agreement on stablecoin regulation legislation.

  • Binance Founder Faces Potential Three-Year Prison Sentence and $50 Million Fine for Money Laundering and Sanctions Violations

    Binance founder Changpeng Zhao has been recommended a three-year prison sentence by federal prosecutors for violating federal money laundering laws and sanctions. The Department of Justice argued that this sentence would hold him accountable for his intentional criminal conduct and send a message to the world. Zhao made a "business decision" to break the law to attract users, build his company, and line his pockets, according to prosecutors. Along with the prison sentence, DOJ lawyers also requested that Zhao pay the $50 million fine he agreed to as part of a plea deal. Zhao, who is a citizen of the UAE and Canada, has been released on a $175 million bond but must remain in the U.S. until his sentencing on April 30.

  • Indonesian President: $8.6 billion laundered through cryptocurrency in 2021

    According to Golden Finance News, Indonesian President Joko Widodo stated that he has noticed signs of money laundering through cryptocurrency in 2021, amounting to $8.6 billion (IDR 139 trillion). In addition to cryptocurrencies and NFTs, the president emphasized the need to monitor other potential money laundering tools, including virtual assets, market activities, e-currencies, and AI-driven transactions. Mahendra Siregar, Chairman of the Financial Services Authority (OJK) Committee, responded to the President's directive, stating that when cryptocurrency regulation is transferred to the OJK next year, his agency will supervise these issues.

  • Hong Kong Shatin District Councillor Deng Zhaofeng: ETF allows individual investors to participate in the virtual currency market with small investments

    Hong Kong Sha Tin District Councilor Deng Zhaofeng published an article entitled "Grasping Financial Innovation Opportunities and Not Forgetting to Exclude Risks" in the A14 edition of Hong Kong Wen Wei Po, pointing out that the launch of Hong Kong's virtual currency ETF brings three opportunities to the market:

  • Fidelity: Bitcoin's medium-term outlook revised from "positive" to "neutral" due to possible increase in selling pressure

    On April 23rd, Fidelity revised their mid-term outlook on Bitcoin from "positive" to "neutral" after some indicators showed that Bitcoin is no longer considered "cheap" in the face of potential selling pressure.

  • Bitcoin ETF demand turns negative after BTC halving

    he 11 spot bitcoin ETFs approved by US regulators in January managed to attract a total of more than $13 billion in fund inflows in the months following their launch, a feat that took gold ETFs several years to achieve. However, demand for the product appears to be slowing down after several weeks of net inflows into the bitcoin ETF. By the third week of April, ETF demand had slowed to consecutive days of net outflows. Following the halving of BTC block rewards, ETF inflows have turned negative.

  • Cointime April 21th News Express

    1.An Ethereum pre-mining address that has been dormant for 8.7 years has been activated, containing 197 ETH 2.Bitcoin block reward halving sparks bullish and skeptical opinion split3.A whale withdrew another 10,119 ETH from Binance4.MtGox claims form updated, may support compensation payment in BTC and BCH5.ZKasino transfers the 10,515 ETH deposited by the user to a multi-signature address and deposits it into Lido 6.Pre-Rune concept NFT Rune Doors is the project party for the deployment of Rune No. 97.More than 11,000 BTC flowed out of Coinbase Pro in the past 7 days8.Solana Ecosystem NFT Social Platform Only1 Completes $1.3 Million Strategic Financing, Led by Newman Group 9.friend.tech: V2 version has completed the audit and will be released on April 2910.Bitwise CEO: Wealth Manager Will Increase Its Bitcoin ETF Holdings

  • Cointime April 20th News Express

    1. Ordinals’ cumulative fee income exceeds 6,700 BTC, an increase of approximately $80 million in the past three days

  • 2 new wallets withdrew 7.85 million ARB from Coinbase 12 hours ago

    As monitored by The Data Nerd, 2 new wallets withdrew 7.85 million ARB (approximately $8.91 million) from Coinbase 12 hours ago.

  • Grayscale transferred a total of approximately 1,202 BTC to Coinbase and Coinbase Prime this morning

    According to data monitored by Arkham, Grayscale transferred about 1202 BTC to Coinbase and Coinbase Prime this morning. The data shows that Grayscale transferred about 1050 BTC to Coinbase about 9 hours ago, worth about $66.96 million, and then transferred about 151.416 BTC to Coinbase Prime about 7 hours ago, worth about $9.76 million.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company