Coinbase's Brian Armstrong to Hold Closed-Door Meeting with U.S. Democrat Lawmakers

2023/07/19 14:33

In an upcoming meeting scheduled for this Wednesday, Brian Armstrong, the Chief Executive Officer of Coinbase, will be engaging in discussions with Democrats from the United States House of Representatives. According to a report by Bloomberg, the meeting will take place behind closed doors and will cover a range of issues related to the cryptocurrency industry.

The focus of the meeting will be with the New Democrat Coalition, a caucus founded in 1997 and boasting approximately 100 members. This caucus is known for its dedication to pro-economic growth, pro-innovation, and fiscally responsible policies.

Key topics to be addressed during the meeting, as revealed by democratic aides familiar with the matter, include digital-asset legislation, taxation, national security, privacy, and climate-related concerns.

Brian Armstrong has consistently voiced the importance of clear and well-defined regulations within the American crypto space, particularly in response to the stringent measures imposed by the United States Securities and Exchange Commission (SEC) earlier this year.

Following a meeting with the SEC in April, Armstrong emphasized the need for regulators to establish policy frameworks before enforcing regulations, rather than the other way around. He also suggested that the US Congress should play a role in addressing these regulatory matters.

To bring clarity to the crypto space, US lawmakers have introduced two distinct bills, each proposing different agencies to oversee the market.

The House bill requires crypto exchanges to register with the SEC for trading digital assets, commodities, stablecoins, and related assets. On the other hand, the Senate bill seeks to grant authority to the Commodity Futures Trading Commission (CFTC) to regulate and supervise crypto exchange operations.

Brian Armstrong

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