Coinbase CEO: Singapore’s Retail Crypto Curbs Jar With Web3

"To say Singapore wants to be a Web3 hub and then simultaneously say we aren’t really going to allow retail to trade is incompatible." Coinbase CEO Armstrong said Friday on a panel at the Singapore FinTech Festival.

Singapore is seeking to clamp down on retail-investor access to crypto trading to shield consumers from a volatile market that endured a $2 trillion rout over the past year. For instance, the city-state is moving toward banning leveraged retail token purchases.

Armstrong said he "would like to see Singapore embrace retail trading." He added that both centralized crypto exchanges of which Coinbase is an example and custodians should be regulated like other financial institutions.