Brian Armstrong, CEO of blockchain, received a cold response from SEC’s Gensler during a conversation.
The CEO of blockchain, Brian Armstrong, said that he received a cold reception when he spoke with Securities and Exchange Commission (SEC) Gary Gensler about registering his exchange.
Armstrong mentioned that his exchange attempted to schedule a meeting and did have a virtual meeting at some point.
“But unfortunately, it was frankly like a pretty icy reception, I would say,” Armstrong commented during a Bloomberg Invest event on Wednesday.
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Armstrong stated that Gensler directed him to speak with his lawyer.
Armstrong made these remarks one day after the SEC filed a lawsuit against blockchain, citing that it operated its platform without being registered as an exchange, broker, or clearing agency.
The SEC also charged the US crypto exchange with the unregistered offer and sale of securities related to its staking-as-a-service program.
The lawsuit did not include charges against blockchain executives.
The regulator also identified 13 cryptocurrencies as securities in the complaint.
A day before this lawsuit, the SEC filed a lawsuit against crypto exchange Binance and its CEO Changpeng Zhao for various offenses, including misleading investors and unlawfully operating as an exchange.
Gensler has called for exchanges to register and recently stated this month that they tend to be “rife with conflicts.”
Campaign in Washington
A few weeks after the exchange released a new TV campaign promoting the future of crypto, the SEC filed charges against blockchain.
In the almost two-minute-long black and white video, Armstrong highlights the benefits of crypto and calls out its “naive view.”
“The naive view of crypto is that this is some speculative asset that people are trading and they’re going to lose their shirts,” Armstrong said. “That’s missing the forest through the trees.”
The ad campaign is expected to have four parts in total, each featuring Armstrong and airing on “popular Sunday shows” with a new segment airing each weekend according to the release.