Brian Armstrong, CEO of Coinbase, will hold a closed meeting with the House of Representatives.
The CEO of Coinbase, which has been mentioned in many spot Bitcoin ETF applications recently, will hold a closed meeting with the House of Representatives. The main topic of this closed session is crypto legislation.
Brian Armstrong to meet with House of Representatives on crypto legislation
Coinbase CEO Brian Armstrong is ready to meet with House Democrats. Coinbase CEO Brian Armstrong will meet with lawmakers from the New Democrat Coalition on Wednesday behind closed doors. The conversation will address related issues such as digital asset legislation, tax, national security, privacy and climate.
Brian Armstrong leads efforts to create clearer cryptocurrency rules in Washington. Coinbase has called on lawmakers to pass two bills that will provide regulators with clearer guidance on how crypto exchanges can register.
Coinbase is facing allegations that it has failed to comply with the Securities and Exchange Commission (SEC) rules that require it to register as a stock exchange. Coinbase denies these allegations and is making efforts to dismiss the lawsuit. This lawsuit is accompanied by a series of enforcement actions in the months to come as part of widespread pressure on the industry from SEC Chairman Gary Gensler.
Armstrong noted that there are conflicting statements that two different US regulators, the SEC and the Commodity Futures Trading Commission, have jurisdiction over certain areas of the industry. Therefore, according to Armstrong, the US Congress should pass new laws to correct this situation.
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