Key Notes
- Armstrong stated Bitcoin is more independent than central banks because no country, company, or individual controls the decentralized protocol.
- Villeroy de Galhau said he trusts central banks with democratic mandates more than what he termed private issuers of Bitcoin.
- The Coinbase CEO called competition between Bitcoin and fiat currencies the greatest accountability mechanism on deficit spending.
Coinbase CEO Brian Armstrong pushed back against the Governor of the Bank of France during a World Economic Forum panel on January 21 after the central banker expressed skepticism about Bitcoin
BTC
$89 036
24h volatility:
2.2%
Market cap:
$1.77 T
Vol. 24h:
$60.22 B
by referring to its “private issuers.”
François Villeroy de Galhau stated he trusts independent central banks with democratic mandates more than what he called private issuers of Bitcoin, according to a video posted on X by Cointelegraph’s Gareth Jenkinson.
Armstrong responded that Bitcoin is a decentralized protocol with no issuer at all.
Armstrong elaborated that Bitcoin is even more independent than central banks because no country, company, or individual controls it anywhere in the world.
The exchange occurred during a tokenization-focused panel at the WEF Annual Meeting in Davos, Switzerland.
Bitcoin as Monetary Check
Armstrong framed the dynamic between Bitcoin and government-issued currencies as healthy competition. He argued that people can decide which they trust more. He called this the greatest accountability mechanism on government overspending.
The Coinbase CEO noted that Bitcoin lacks a money printer and has a fixed supply. He stated that people move to it during times of uncertainty, similar to how they historically turned to gold.
Villeroy de Galhau maintained that the guarantee for trust comes from central bank independence combined with accountability to citizens.
Ripple CEO Brad Garlinghouse, who also appeared on the panel, described the session as “spirited dialogue” but noted agreement among panelists that innovation and regulation are not on opposite sides.
Davos Crypto Agenda
Armstrong arrived at Davos with plans to meet bank leaders and policymakers to advance the U.S. crypto market structure bill.
The meetings come after Coinbase withdrew support from a Senate crypto regulation bill on January 14 over concerns about rules limiting interest payments.
Armstrong said digital versions of real-world assets could expand access to investment products for billions of adults worldwide.
He indicated that the White House has been cooperative and a revised version of the legislation could emerge within weeks.
The full panel discussion is available on the World Economic Forum’s official channel.
next
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
Zoran Spirkovski on X
Source: https://www.coinspeaker.com/coinbase-ceo-corrects-frances-central-bank-governor-on-bitcoin-issuance-at-davos/
