Armstrong to Meet with Congress on Digital Asset Legislation

Coinbase’s chief executive officer, Brian Armstrong, is reportedly intending to meet with members of Congress to discuss digital asset legislation and related issues.

Armstrong is scheduled to meet with the New Democrat Coalition, a group of approximately 100 Democrats in the House of Representatives dedicated to advancing “innovative, inclusive, and forward-looking policies,” on July 17, according to a Bloomberg report.

Reportedly, the CEO of Coinbase will speak with legislators about digital asset legislation and how the technology may impact national security, privacy, and the environment.

The meeting, which will reportedly be conducted behind closed doors on July 19, will occur amid various legislative proposals in the House and Senate about multiple aspects of the crypto space.

Senators Cynthia Lummis and Kirsten Gillibrand reintroduced legislation on July 12 aimed at establishing a comprehensive regulatory framework for digital assets, while the House Financial Services Committee is presently reviewing a market structure bill draft.

Coinbase is embroiled in a legal dispute with the U.S. Securities and Exchange Commission over allegations that the exchange offered unregistered securities.

On July 13, the parties held their first pre-motion hearing.

Armstrong has previously advocated discussions between U.S. legislators and Coinbase in response to the crypto market crash and FTX-related events.

In 2024, the United States will hold a presidential election, and the exchange’s CEO stated that crypto users would be urged to “elect pro-crypto candidates” across the country.