• Coinbase CEO, Brian Armstrong is scheduled to meet with House Democrats from the New Democrat Coalition on Wednesday morning.
• The meeting will focus on crypto legislation covering topics such as taxes, privacy and national security.
• Coinbase is currently facing a lawsuit from the Securities and Exchange Commission (SEC) over allegations of securities law violations.

Coinbase CEO to Meet US House Democrats

Coinbase CEO, Brian Armstrong is set to privately meet with members of the US House of Representatives‘ New Democrat Coalition on Wednesday morning. The discussion will revolve around crypto legislation that involves topics such as taxes, privacy and national security.

Background Information

The New Democrat Coalition consists of 100 members who support pro-economic growth, pro-innovation and fiscally responsible policies. Additionally, Coinbase is currently involved in a lawsuit with the SEC due to alleged securities law violations. Prior to the lawsuit, Coinbase petitioned the agency in July 2022 for further clarity on crypto regulation but was ignored until it asked for more time to examine its request earlier this year.

Armstrong’s Campaign for Clarity

In light of the ongoing lawsuit from the SEC, Armstrong has recently launched a campaign for clearer crypto rules in the US. His intention behind this initiative is to create an environment where cryptocurrency can thrive without being hindered by unclear regulations or restrictive laws imposed by government agencies.

The Meeting Agenda

The private gathering between Armstrong and House Democrats will cover different aspects of how cryptocurrencies are regulated in America including taxation policies and measures that can be taken at a federal level to ensure public safety when utilizing digital assets like bitcoin (BTC). Furthermore, they will also discuss strategies that can be implemented in order to promote innovation within this sector whilst protecting investors from potential frauds or scams related to digital currencies.

Conclusion

This meeting between Coinbase’s CEO and members of Congress highlights just how seriously lawmakers are taking cryptocurrency regulation at a federal level. It also demonstrates their commitment towards creating an environment that allows digital assets such as bitcoin (BTC) to succeed without any hindrances caused by obscure regulations or strict laws enforced by regulatory bodies like the SEC.