Coinbase CEO to Discuss Crypto Legislation with US Lawmakers

Coinbase CEO to Discuss Crypto Legislation with Congress

Brian Armstrong, the CEO of United States-based cryptocurrency exchange Coinbase, is planning to meet with members of Congress to discuss digital asset legislation and related issues. According to a July 17 Bloomberg report, Armstrong has a scheduled meeting with the New Democrat Coalition, a group of roughly 100 Democrats in the House of Representatives. The Coinbase CEO will reportedly speak with the lawmakers on digital asset legislation as well as how the technology could potentially impact national security, privacy and the climate.

The meeting, reportedly to be held behind closed doors on July 19, will come amid different proposals in the House and Senate to legislate different aspects of the crypto space. On July 12, Sens. Cynthia Lummis and Kirsten Gillibrand reintroduced legislation aimed at creating a comprehensive regulatory framework for digital assets, while lawmakers on the House Financial Services Committee are currently considering a draft of a market structure bill.

Coinbase is currently involved in a legal battle with the U.S. Securities and Exchange Commission over the exchange allegedly offering unregistered securities such as pepe crypto, math crypto, orca crypto, mask crypto, mina crypto, poly crypto, and neo crypto. The two parties had their first pre-motion hearing on July 13.

The discussion between Armstrong and the New Democrat Coalition will also touch upon the potential of web 3.0 technology, which of the following best describes it, and what is web 3.0 technology.

Coinbase Calls for Crypto-Friendly Candidates in US 2024 Election

Armstrong, an industry leader, has called for U.S. lawmakers to engage in discussions with Coinbase following the crypto market crash and the events surrounding FTX. He also urged crypto users to “elect pro-crypto candidates” in the upcoming 2024 U.S. presidential election.

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

To commemorate this moment in history and support independent journalism in the crypto space, this article can be collected as an NFT.