Coinbase's CEO, Brian Armstrong, made a loud statement accusing traditional banks of targeted pressure on crypto companies. According to him, this tactic is aimed at slowing down the growth and integration of cryptocurrencies into the global financial system, protecting their own outdated interests.
Armstrong claims that many banks refuse cryptocurrency companies access to accounts, block transactions, or create excessive regulatory barriers without valid reasons. He noted that this "shadow banking" complicates the operations of innovative crypto startups striving to operate within the legal framework. According to the CEO of Coinbase, this approach reflects fear of a new technology that threatens traditional monopolies.
These allegations reflect long-standing tensions between traditional finance and the rapidly growing crypto industry. Armstrong urged regulators to take a closer look at such practices to ensure fair conditions for all market participants and to foster innovation rather than suppress it. This conflict underscores the need for clearer and fairer regulatory frameworks across the entire crypto sector.
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