Armstrong meets in Washington to discuss the future of cryptocurrencies
Coinbase CEO announced that he will be meeting with lawmakers in Washington to discuss this issue
Brian Armstrong, CEO of the Coinbase cryptocurrency platform, is planning a major trip to Washington for meetings with US lawmakers.
The leader of the main cryptocurrency exchange in the United States is scheduled to meet confidentially with the Democratic members of the House of Representatives, the lower house of the United States Congress.
This private meeting will take place with the members of the Coalition of New Democrats, a group made up of more than 100 members who are committed to economic growth, innovation and fiscally responsible policies, as detailed on their website. According to close sources who spoke with Bloomberg, the meeting is scheduled to take place next Wednesday morning.
The central topic of the meeting will be legislation on digital assets, although other related issues will also be addressed, such as tax regulations, implications for national security, privacy concerns and environmental aspects.
Armstrong has been actively advocating for clearer cryptocurrency regulations and guidelines in Washington, and has urged lawmakers to consider two recent bills, as The Block recalled in its report.
In April, Coinbase took an unprecedented step by suing US regulators with the aim of obtaining greater regulatory clarity for the burgeoning digital asset industry. The lawsuit specifically directed the Securities and Exchange Commission (SEC) with the request that it “propose and adopt rules” for the industry, although the results of this effort have so far been inconclusive.
The meeting with Democrats comes at a critical time for the US cryptocurrency industry, as it has faced increasing regulatory crackdown this year. In June, the SEC filed a lawsuit against Coinbase accusing them of violating federal securities law. This action was not isolated, as the federal agency has also taken legal action against other competing exchanges, including Binance.
K. Tovar
Source: Bloomberg
(Reference image source: Michael, Unsplash)
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