Coinbase CEO Brian Armstrong: Failed Anti-Money Laundering Regulations ‘Sounds Like A Job For DOGE’
Posted On December 2, 2024
Coinbase Inc. (NASDAQ:COIN) CEO Brian Armstrong has called on the newly established Department of Government Efficiency (D.O.G.E.) to tackle what he describes as a glaring failure of global Anti-Money Laundering (AML) regulations.
What Happened: “Anti-Money Laundering (AML) regulations have been a policy failure,” Armstrong wrote on Saturday on X, noting that these regulations cost an estimated $213 billion annually while only stopping about 0.2% of illicit activity according to United Nations data.
“Sounds like a job for @DOGE,” he added, referring to the agency created under the Trump administration to streamline regulatory inefficiencies.
The Coinbase …
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