Coinbase CEO Brian Armstrong Set to Meet House Democrats for Discussion on Crypto Legislation
Coinbase CEO Brian Armstrong is set to have a closed-door meeting with House Democrats to discuss crypto regulations.
The meeting, organized by the New Democrat Coalition, will focus on discussions surrounding crypto legislation, including topics like taxes, national security, privacy, and climate, Bloomberg reported, citing Democratic aides familiar with the plans.
The meeting is scheduled for Wednesday.
The New Democrat Coalition consists of 100 center-left members who seek to collaborate on various issues to promote innovative and inclusive policies.
Armstrong's crypto platform Coinbase has been pushing for clearer regulations within the cryptocurrency industry.
In July last year, Coinbase filed a petition with the SEC to write regulations explaining how securities laws apply to cryptocurrency and to engage in a formal notice-and-comment process to allow the public to weigh in.
The largest US-based crypto exchange also submitted a comment to the agency back in March, asking for more clarity on the SEC’s views on staking services.
Coinbase even filed a lawsuit with a federal appellate court in Philadelphia in April, alleging that "the SEC refuses to address Coinbase’s rulemaking petition" as the agency aims to initiate enforcement actions against the firm for listing unregistered securities.
Coinbase currently faces a lawsuit filed by the US SEC, which accuses the platform of violating regulations that require it to register as a securities exchange.
Coinbase has denied these allegations, seeking the dismissal of the SEC lawsuit.
The exchange has consistently argued that the SEC has refused to offer it a clear way to register as a compliant trading platform.
However, just recently, the SEC claimed that Coinbase was aware of a
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