Coinbase CEO to Engage in Discussions with US Lawmakers Regarding Crypto Legislation: Report

Coinbase CEO Brian Armstrong has reportedly planned a meeting with members of Congress in the United States to discuss cryptocurrency legislation and related issues. According to a Bloomberg report on July 17, Armstrong is scheduled to meet with the New Democrat Coalition, a group of approximately 100 House of Representatives Democrats focused on promoting innovative and inclusive policies. During the meeting, Armstrong will address digital asset legislation and the potential impact of the technology on national security, privacy, and the environment.

The closed-door meeting is set to take place on July 19 and comes as different proposals for crypto regulation are being considered in the House and Senate. On July 12, Senators Cynthia Lummis and Kirsten Gillibrand reintroduced legislation aimed at establishing a comprehensive regulatory framework for digital assets. Meanwhile, the House Financial Services Committee is reviewing a draft of a market structure bill.

Coinbase is currently engaged in a legal battle with the U.S. Securities and Exchange Commission (SEC) over allegations of offering unregistered securities. The two parties had their first pre-motion hearing on July 13.

https://twitter.com/MetaLawMan/status/1681289618036080640

As a prominent figure in the industry, Armstrong has previously called for discussions between U.S. lawmakers and Coinbase, particularly in the aftermath of the crypto market crash and events surrounding FTX. The CEO expressed the exchange’s intention to encourage crypto users to support “pro-crypto candidates” across the United States, particularly in the upcoming 2024 presidential election.

CryptoGrafos reached out to Coinbase for comment but did not receive a response at the time of publication.

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