Coinbase Founder Will Meet Democrats Behind Closed Doors
Date: 2023-07-19 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
The CEO of the American cryptocurrency exchange Coinbase intends to discuss with politicians the problems around local market regulation
The founder and CEO of the Coinbase cryptocurrency exchange, Brian Armstrong, will hold a closed meeting with the Democrats. Bloomberg writes about this, citing sources close to lawmakers.
The meeting is scheduled for Wednesday, July 19. Behind closed doors, Armstrong intends to discuss a wide range of issues, including taxes, national security, data privacy and the impact of the industry on the environment. Coinbase did not comment to the media on Armstrong's meeting with American politicians.
The U.S. market is becoming increasingly toxic to the crypto market's first-ever public trading platform. Back in April 2023, Armstrong said that Coinbase could leave the United States if the country does not clarify the regulatory framework for the crypto market. In March, the media learned that the company was considering the option of creating a new platform outside the United States.
However, in May, Armstrong radically changed his approach. He said that the exchange will not rush to leave the States. According to him, the company is still "100% committed to the United States." General Counsel Paul Grewal also confirmed that the exchange will operate normally for any period of time necessary to resolve a potential litigation with the SEC.
In early June, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase. The regulator accused the trading platform of offering unregistered securities. The SEC considers a number of tokens to be such, including cardano (ADA), polygon (MATIC), DASH, NEXO, and a dozen others.
