Coinbase CEO will meet with US lawmakers to discuss crypto legislation: Report

The crypto exchange is currently involved in a legal battle with the U.S. Securities and Exchange Commission over allegedly offering unregistered securities.

Brian Armstrong, the CEO of United States-based cryptocurrency exchange Coinbase, is reportedly 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 focused on advancing “innovative, inclusive, and forward-looking policies.” 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. The two parties had their first pre-motion hearing on July 13.

Good questions. https://t.co/zNO6OxQRNu

— Faryar Shirzad (@faryarshirzad) July 18, 2023

Related: Coinbase pauses staking services in four US states following regulators’ orders

As an industry leader, Armstrong has previously called for discussions between U.S. lawmakers and Coinbase following the crypto market crash and the events surrounding FTX. The CEO said the exchange would be calling on crypto users to “elect pro-crypto candidates” across the U.S. — the country will have a presidential election in 2024.

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

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