Coinbase CEO Brian Armstrong is scheduled to hold a closed-door meeting with House Democrats Wednesday morning to discuss digital asset legislation and related issues.
Coinbase CEO Brian Armstrong to Meet with US Lawmakers
The meeting, which will focus on issues such as tax, national security, privacy and climate, comes at a crucial time for Coinbase as it faces a lawsuit filed by the Securities and Exchange Commission (SEC).
Armstrong actively advocates for clearer rules and regulations surrounding digital assets and is urging lawmakers to consider two bills that provide guidance on how crypto exchanges can register with regulators.
Meeting with House Democrats, particularly members of the New Democrat Coalition, will offer Armstrong an opportunity to discuss these legislative efforts and seek support for his cause.
The New Democrat Coalition consists of 100 centre-left members who aim to work across party lines to promote innovative and forward-looking policies. The meeting with Armstrong also coincides with their mission to advance inclusive and progressive initiatives.
Coinbase had entered a legal battle with the SEC alleging that the company had violated the rules by not registering as a stock exchange. Coinbase denied the allegations and asked for the lawsuit to be dismissed.
This legal dispute is part of a broader regulatory crackdown on the cryptocurrency industry led by SEC Chairman Gary Gensler, which is taking enforcement actions against various players in this space.
*Not investment advice.