Brian Armstrong, the CEO of Coinbase, is planning to have a meeting with members of the New Democratic Coalition in the House of Representatives to discuss digital asset legislation and related issues. The New Democratic Coalition comprises around 100 Democrats who aim to advance innovative and in exclusive policies. During the meeting, Armstrong will engage with lawmakers on topics such as digital asset legislation's impact on national security, privacy, and climate.
The closed-door meeting is scheduled for July 19 and comes amid the House and Senate's presentation of various proposals for cryptocurrency-related legislation. Senators Cynthia Lummis and Kirsten Gillibrand reintroduced a bill on July 12 aimed at establishing a com Prehensive regulatory framework for digital assets. Meanwhile, the House Financial Services Committee is currently reviewing a draft bill on market structure.
Coinbase, the cryptocurrency exchange led by Armstrong, is currently embroiled in a legal battle with the US Securities and Exchange Commission (SEC) over alleged offering of unregistered securities. The first pre-motion hearing between Coinbase and the SEC took place on July 1 3. Armstrong, as an industry leader, has previously called for discussions between Coinbase and US lawmakers after significant cryptocurrency market events. He also mentioned that Coinbase would support pro-crypto candidates in the upcoming 2024 presidential election. section.
