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Brian Armstrong, CEO of America’s largest cryptocurrency exchange Coinbase, will meet privately with House Democrats on Wednesday morning.
according to bloomberg reportsDemocratic aides revealed that the meeting will focus on crypto legislation and related issues such as taxes, privacy and national security.
Coinbase CEO to Meet with House Democrats
The closed-door meeting will take place with lawmakers from the New Democrat coalition, one of the largest caucuses in the House, made up of 100 members committed to pro-economic growth, pro-innovation and fiscally responsible policies.
Armstrong’s meeting with the new Democratic coalition comes as Coinbase faces a lawsuit from the Securities and Exchange Commission (SEC) over allegations of securities law violations. Recall that the SEC last month accused the crypto exchange of operating as an unregistered national securities exchange, clearing agency, and broker.
While Coinbase battles the SEC’s charges, Armstrong runs a campaign demanding clearer crypto regulations in the US. Ahead of the lawsuit, Coinbase filed a petition with the agency in July 2022, seeking clarity on crypto regulation. After the exchange’s request was ignored, the agency finally sought more time to file a concrete response.
Armstrong wants clear crypto rules
The Coinbase chief has urged US lawmakers to consider two crypto bills that are circulating and promises to provide guidance on which regulators will oversee digital assets. Lawmakers in the House and Senate introduced bills to provide clarity on crypto regulation.
First of all, By the Republican Chairs of the House Financial Services Committee and the House Committee on Agriculture, crypto exchanges will be enabled to register with the SEC and trade digital securities, commodities and stablecoins in one place.
The second, introduced by crypto-friendly Senator Cynthia Loomis and Senator Kirsten Gillibrand, would require the Commodity Futures Trading Commission to oversee exchanges, while regulated depository institutions would handle stablecoin issuers. The bill was originally proposed in June 2022 started again Last week.
Meanwhile, Coinbase’s COIN stock is up more than 25% after a federal court ruled in favor of Ripple Labs in a lawsuit with the SEC regarding the recognition of XRP as a security or investment contract. The partial victory was widely considered a victory for the crypto industry. The closed-door meeting will be held with lawmakers from the New Democrat coalition, one of the largest caucuses in the House.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
[ad_1]
Brian Armstrong, CEO of America’s largest cryptocurrency exchange Coinbase, will meet privately with House Democrats on Wednesday morning.
according to bloomberg reportsDemocratic aides revealed that the meeting will focus on crypto legislation and related issues such as taxes, privacy and national security.
Coinbase CEO to Meet with House Democrats
The closed-door meeting will take place with lawmakers from the New Democrat coalition, one of the largest caucuses in the House, made up of 100 members committed to pro-economic growth, pro-innovation and fiscally responsible policies.
Armstrong’s meeting with the new Democratic coalition comes as Coinbase faces a lawsuit from the Securities and Exchange Commission (SEC) over allegations of securities law violations. Recall that the SEC last month accused the crypto exchange of operating as an unregistered national securities exchange, clearing agency, and broker.
While Coinbase battles the SEC’s charges, Armstrong runs a campaign demanding clearer crypto regulations in the US. Ahead of the lawsuit, Coinbase filed a petition with the agency in July 2022, seeking clarity on crypto regulation. After the exchange’s request was ignored, the agency finally sought more time to file a concrete response.
Armstrong wants clear crypto rules
The Coinbase chief has urged US lawmakers to consider two crypto bills that are circulating and promises to provide guidance on which regulators will oversee digital assets. Lawmakers in the House and Senate introduced bills to provide clarity on crypto regulation.
First of all, By the Republican Chairs of the House Financial Services Committee and the House Committee on Agriculture, crypto exchanges will be enabled to register with the SEC and trade digital securities, commodities and stablecoins in one place.
The second, introduced by crypto-friendly Senator Cynthia Loomis and Senator Kirsten Gillibrand, would require the Commodity Futures Trading Commission to oversee exchanges, while regulated depository institutions would handle stablecoin issuers. The bill was originally proposed in June 2022 started again Last week.
Meanwhile, Coinbase’s COIN stock is up more than 25% after a federal court ruled in favor of Ripple Labs in a lawsuit with the SEC regarding the recognition of XRP as a security or investment contract. The partial victory was widely considered a victory for the crypto industry. The closed-door meeting will be held with lawmakers from the New Democrat coalition, one of the largest caucuses in the House.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
