{"id":535917,"date":"2023-05-31T17:00:14","date_gmt":"2023-05-31T17:00:14","guid":{"rendered":"https:\/\/wncen.com\/?p=535917"},"modified":"2024-06-11T11:43:03","modified_gmt":"2024-06-11T11:43:03","slug":"coinbase-ceo-prediction-is-china-set-to-dominate","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/coinbase-ceo-prediction-is-china-set-to-dominate\/","title":{"rendered":"Coinbase CEO Drops Bombshell Prediction &#8211; Is China Set To Dominate Crypto?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Coinbase CEO Brian Armstrong has warned that the US risks ceding its global financial leadership and innovation hub status if it fails to recognize the transformative potential of blockchain technology and cryptocurrency.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In a recent <\/span><a href=\"https:\/\/www.marketwatch.com\/story\/coinbase-ceo-americas-future-as-a-global-technology-leader-is-up-for-grabs-c3a9c6ae\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">interview <\/span><\/a><span style=\"font-weight: 400\">with Market Watch, Armstrong urged policymakers and regulators to provide regulatory clarity to ensure consumer protection and realize the promise of crypto. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Armstrong further claimed:<\/span><\/p>\n<blockquote><p>\u00a0By enforcing restrictive policies, the U.S. is inadvertently driving crypto-innovation offshore. That shift will compromise America\u2019s legacy of pioneering technological advancements, and weaken our national security posture.<\/p><\/blockquote>\n<h2><span style=\"font-weight: 400\">Brian Armstrong Warns U.S. Could Lose To China<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The Coinbase CEO emphasized that currency has always embodied innovation, from the earliest coins as physical stores of value that transitioned the human race from bartering to commerce to the advent of portable paper currency that bolstered lending and investments.\u00a0<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/wncen.com\/crypto\/indian-banks-urged-to-embrace-ai-and-blockchain-for-future-readiness\/\" target=\"_blank\" rel=\"noopener \">Indian Banks Urged To Embrace AI And Blockchain For Future Readiness<\/a><\/p>\n<p><span style=\"font-weight: 400\">Armstrong also notes that the technologically driven financial system of the 20th century, which was characterized by innovations such as credit cards, electronic transfers, and online banking, helped to make it the &#8220;American Century&#8221; &#8211; a period of US economic and political dominance. This highlights the importance of technological innovation in driving economic progress and global influence and suggests that the US must continue to lead in this area to maintain its position as a global economic leader.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, Coinbase CEO suggests that now the US and other democratic nations are up against digital systems promoted by an ambitious adversary, China. Armstrong revealed that China is promoting two Chinese tech behemoths, Alipay and Tencent, which offer integrated payment systems with direct, instant access to an array of services.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">With the recent launch of its digital yuan, China aims to directly challenge the US dollar and its role in global commerce. Given these moves and China&#8217;s strategy to leverage financial technology to protect its national interests, Hong Kong is positioning itself as a global crypto hub.<\/span><\/p>\n<h3><span style=\"font-weight: 400\">Coinbase CEO Urges US Congress To Seize Historic Opportunity<\/span><\/h3>\n<p><span style=\"font-weight: 400\">Armstrong put forward that smart and bespoke regulation in the 1990s and early 2000s enabled the US to define the Internet Age. And just like then, now is the time for Congress to seize the historic opportunity presented by crypto, pass comprehensive legislation that safeguards consumers, and fosters innovation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moreover, he stressed that crypto has the potential to play a significant part in stimulating the American economy and promoting democratic values worldwide. &#8220;<\/span><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif\">If the US falls short today, the next generation of Americans will pay the price,&#8221; the CEO said.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, Armstrong warned that if the US fails to recognize the transformative potential of blockchain technology and cryptocurrency, it risks ceding its global financial leadership and innovation hub status to other countries.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bringing crypto and blockchain innovation back to the US a decade from now will require a colossal and sustained effort that may not succeed. Therefore, Armstrong urged policymakers and regulators to work together to modernize the financial system and reaffirm the country&#8217;s role as a global technology leader rather than abdicating it.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/optimism\/optimism-crashes-33-following-token-unlocks-why-there-could-be-more-pain-to-come\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Optimism Crashes 33% Following Token Unlocks, Why There Could Be More Pain To Come<\/a><\/div>\n<p><span style=\"font-weight: 400\">He also acknowledged that traditional financial capitals, including the UK, United Arab Emirates, Brazil, Japan, the European Union, Australia, and Singapore, are also vying to become crypto hubs. He argued that the nexus between financial technologies and democratic values is integral to America&#8217;s identity. It&#8217;s why he decided to base Coinbase in the US.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Overall, Armstrong highlights the potential of blockchain technology and cryptocurrency to revolutionize the financial system and other sectors, and the importance of the US in fostering innovation in this space. <\/span><\/p>\n<p><span style=\"font-weight: 400\">By providing regulatory clarity, he believes the US can safeguard consumers, stimulate the economy, and maintain its position as a global financial leader and innovation hub.<\/span><\/p>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/KL5MzDFs\/\" alt=\"Coinbase\" width=\"1814\" height=\"858\"><figcaption class=\"wp-caption-text\">Coinbase&#8217;s stocks (COIN) uptrend on the 1-day chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/imgb0rW1\/?symbol=NASDAQ%3ACOIN\" target=\"_blank\" rel=\"noopener nofollow\">COIN on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Featured image from Unsplash, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase CEO Brian Armstrong has warned that the US risks ceding its global financial leadership and innovation hub status if it fails to recognize the transformative potential of blockchain technology and cryptocurrency.\u00a0 In a recent interview with Market Watch, Armstrong urged policymakers and regulators to provide regulatory clarity to ensure consumer protection and realize the promise of crypto. Armstrong further claimed: \u00a0By enforcing restrictive policies, the U.S. is inadvertently driving crypto-innovation offshore. That shift will compromise America\u2019s legacy of pioneering technological advancements, and weaken our national security posture. Brian Armstrong Warns U.S. Could Lose To China The Coinbase CEO emphasized that currency has always embodied innovation, from the earliest coins as physical stores of value that transitioned the human race from bartering to commerce to the advent of portable paper currency that bolstered lending and investments.\u00a0 Related Reading: Indian Banks Urged To Embrace AI And Blockchain For Future Readiness Armstrong also notes that the technologically driven financial system of the 20th century, which was characterized by innovations such as credit cards, electronic transfers, and online banking, helped to make it the &#8220;American Century&#8221; &#8211; a period of US economic and political dominance. This highlights the importance of technological innovation in driving economic progress and global influence and suggests that the US must continue to lead in this area to maintain its position as a global economic leader. However, Coinbase CEO suggests that now the US and other democratic nations are up against digital systems promoted by an ambitious adversary, China. Armstrong revealed that China is promoting two Chinese tech behemoths, Alipay and Tencent, which offer integrated payment systems with direct, instant access to an array of services.\u00a0 With the recent launch of its digital yuan, China aims to directly challenge the US dollar and its role in global commerce. Given these moves and China&#8217;s strategy to leverage financial technology to protect its national interests, Hong Kong is positioning itself as a global crypto hub. Coinbase CEO Urges US Congress To Seize Historic Opportunity Armstrong put forward that smart and bespoke regulation in the 1990s and early 2000s enabled the US to define the Internet Age. And just like then, now is the time for Congress to seize the historic opportunity presented by crypto, pass comprehensive legislation that safeguards consumers, and fosters innovation.\u00a0 Moreover, he stressed that crypto has the potential to play a significant part in stimulating the American economy and promoting democratic values worldwide. &#8220;If the US falls short today, the next generation of Americans will pay the price,&#8221; the CEO said. Furthermore, Armstrong warned that if the US fails to recognize the transformative potential of blockchain technology and cryptocurrency, it risks ceding its global financial leadership and innovation hub status to other countries.\u00a0 Bringing crypto and blockchain innovation back to the US a decade from now will require a colossal and sustained effort that may not succeed. Therefore, Armstrong urged policymakers and regulators to work together to modernize the financial system and reaffirm the country&#8217;s role as a global technology leader rather than abdicating it. Related Reading: Optimism Crashes 33% Following Token Unlocks, Why There Could Be More Pain To Come He also acknowledged that traditional financial capitals, including the UK, United Arab Emirates, Brazil, Japan, the European Union, Australia, and Singapore, are also vying to become crypto hubs. He argued that the nexus between financial technologies and democratic values is integral to America&#8217;s identity. It&#8217;s why he decided to base Coinbase in the US. Overall, Armstrong highlights the potential of blockchain technology and cryptocurrency to revolutionize the financial system and other sectors, and the importance of the US in fostering innovation in this space. By providing regulatory clarity, he believes the US can safeguard consumers, stimulate the economy, and maintain its position as a global financial leader and innovation hub. Featured image from Unsplash, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":535918,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1026,1393,87206,6664,1558],"class_list":["post-535917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain-technology","tag-coinbase","tag-coinbase-ceo","tag-crypto","tag-cryptocurrency"],"acf":[],"yoast_head":"\n<title>Coinbase CEO Drops Bombshell Prediction - Is China Set To Dominate Crypto?<\/title>\n<meta name=\"description\" content=\"Coinbase CEO Brian Armstrong has warned that the US risks ceding its global financial leadership and innovation hub status.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/coinbase-ceo-prediction-is-china-set-to-dominate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase CEO Drops Bombshell Prediction - Is China Set To Dominate Crypto?\" \/>\n<meta property=\"og:description\" content=\"Coinbase CEO Brian Armstrong has warned that the US risks ceding its global financial leadership and innovation hub status.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/coinbase-ceo-prediction-is-china-set-to-dominate\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-31T17:00:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T11:43:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/louis-hansel-7RtM37cLJ3c-unsplash.jpg?fit=2400%2C1573\" \/>\n\t<meta property=\"og:image:width\" content=\"2400\" \/>\n\t<meta property=\"og:image:height\" content=\"1573\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ronaldo Marquez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Rmmcapital\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ronaldo Marquez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/coinbase-ceo-prediction-is-china-set-to-dominate\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/coinbase-ceo-prediction-is-china-set-to-dominate\/\"},\"author\":{\"name\":\"Ronaldo Marquez\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c\"},\"headline\":\"Coinbase CEO Drops Bombshell Prediction &#8211; 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Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. 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