The cryptocurrency exchange and the U.S. Securities and Exchange Commission are now engaged in legal conflict over the exchange’s alleged selling of unregistered securities.
The CEO of one of the biggest cryptocurrency exchanges in the country, Coinbase, Brian Armstrong, will meet with members of Congress to discuss laws pertaining to digital assets and its broader ramifications. The discussion will cover a range of topics related to the cryptocurrency business, including regulation, national security, privacy, and the influence on the environment. It is planned in conjunction with the New Democrat Coalition, an organization dedicated to supporting progressive policies.
Closed-Door Meeting to Address Legislative Proposals and Industry Challenges
The discussion between Armstrong and politicians, which will take place behind closed doors on July 19, comes at a critical moment when the House and Senate are debating several ideas pertaining to the regulation of cryptocurrencies.
Recently, senators Kirsten Gillibrand and Cynthia Lummis presented legislation that would provide a thorough regulatory framework for digital assets. A draft of a bill pertaining to market structure is now being examined by the House Financial Services Committee.
Coinbase’s Legal Battle and Armstrong’s Advocacy
Like many other cryptocurrency businesses, Coinbase is dealing with legal issues, such as a battle with the U.S. Securities and Exchange Commission (SEC) over claims that it sold unregistered securities. As a pioneer in the field, Armstrong has continuously pushed for fruitful communication between the crypto community and American policymakers. He stressed the need of choosing pro-crypto candidates in the next 2024 presidential election in light of recent market developments.
The participation of Coinbase’s CEO with Congress demonstrates the company’s dedication to influencing the legislative environment in a way that promotes innovation while addressing issues with security, privacy, and the environment. Coinbase is still a major participant in the cryptocurrency industry.
Nosisnews contacted Coinbase for a comment; we will update this item if we hear back.