Brian Armstrong's meetings with US senators: A new stage in cryptocurrency regulation
Date: 2024-06-13 Author: Henry Casey Categories: IN WORLD
Discussion of key issues
The head of the leading American centralized crypto exchange Coinbase (NASDAQ: COIN), Brian Armstrong, is actively meeting with US senators of both parties on issues of regulating the cryptocurrency sector. He advocates the creation of clear and fair rules that can protect the interests of investors.
Armstrong recalled that in May the House of Representatives approved the Financial Innovation and Technology for the 21st Century Act (FIT21), aimed at establishing a regulatory framework for digital assets. He supports the idea of splitting regulation of the crypto sector between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
There is bipartisan support in the Senate that could help the FIT21 bill pass successfully. This was possible given that President Joe Biden's administration does not plan to veto the initiative.
Crypto Voter Influence
Brian Armstrong noted that the influence of crypto voters on politics is becoming increasingly noticeable, which helps create a more favorable environment for the development of digital assets in the United States.
It's also worth noting that former US President Donald Trump has supported the cryptocurrency mining industry by calling for Bitcoin mining in the US, which could also impact future regulation of the sector.
These steps open a new chapter in the history of cryptocurrency regulation in the United States, reflecting the desire for a more transparent and sustainable digital asset market.
