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Photo provided by Milken Institute

The U.S. is at risk of being left behind by the world of cryptocurrencies as other countries more quickly embrace digital assets, Coinbase co-founder and CEO Brian Armstrong said Monday.

Speaking at the Milken Institute Global Conference in Beverly Hills, Armstrong noted that China began working on a digital currency back in 2014. But as seen with its tight grip on the nation’s internet, the Chinese government has looked to deploy crypto as a means of control, he added—making it all the more important that democracies allow crypto to flourish freely.

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