Coinbase CEO: US crypto industry needs to clarify regulation through Congress or case law.

According to BlockBeats news on June 12th, Coinbase CEO Brian Armstrong stated in an interview that the US cryptocurrency industry needs clear regulation, which can only come from Congress or through case law. He stated that "there is a power struggle between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and Coinbase has been caught in the middle of this territorial dispute between the two agencies. As these two agencies have failed to reach an agreement on the status of cryptocurrencies as securities or commodities, we need clarification. To make this clear, Congress must intervene and enact legislation. Until we have legislation, the industry will rely on case law, which will appear in the lawsuit filed by the SEC against Coinbase last week." (CryptoSlate)