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Coinbase CEO Warns of China's Digital Payment Industry Challenging US Crypto Industry

Coinbase CEO Brian Armstrong has warned that the US crypto industry faces a strong challenge from China's digital payment industry. Armstrong noted that China's Alipay and Tencent offer integrated payment systems and are rapidly scaling worldwide, with its social credit system baked in.

He also highlighted the digital yuan, which he believes is intended to directly challenge the US dollar. Armstrong urged regulators to create rules that will produce a strong and competitive US crypto industry.

Coinbase Brian Armstrong
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