Coinbase CEO hints its new layer-2 network could include AML measures
Brian Armstrong said centralized firms have a responsibility to monitor transactions and carry out AML checks. Coinbase chief executive Brian Armstrong has hinted that the firm’s new Layer-2 blockchain network Base may be subjected to transaction monitoring and anti-money laundering measures at launch. In an interview with Joe Weisenthal on Bloomberg Radio on Mar. 6, Armstrong acknowledged that Base has some centralized components today, adding “it will be more and more decentralized over time.” However, he then suggested that there will be transaction monitoring and AML requirements for users of the new layer-2 network . He suggested that Coinbase will have a responsibility in terms of transaction monitoring in the early days, adding: “I think that the centralized actors are the ones that are probably going to have the most responsibility to avoid money laundering issues and having transaction monitoring programs and things like that.” Armstrong’s comments were also highlighted up b...