Coinbase CEO to Meet Democrats on Digital Asset Regulation | Crypto

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Coinbase Chief Executive Brian Armstrong will meet privately with a group of Democrats from the U.S. House of Representatives and plans to comment on the future of digital asset legislation.

Wednesday’s meeting comes as Coinbase and Binance, two of the world’s largest crypto exchanges, grapple with lawsuits from the U.S. Securities and Exchange Commission (SEC) for allegedly failing to register their trades with of the agency.

During the meeting, Armstrong will also address related issues, such as taxation, national security, privacy and climate, an NDP Coalition spokesperson said in an emailed statement.

Coinbase did not immediately respond to an out-of-hours request for comment from Reuters news agency.

If the SEC lawsuits are successful, they could transform the crypto market by asserting the SEC’s jurisdiction over the industry, which for years has argued that tokens do not constitute securities and should not be regulated by the commission.

Coinbase and Binance deny the SEC allegations and have pledged to vigorously defend themselves in court.

Armstrong is an outspoken critic of the SEC who has called SEC Chairman Gary Gensler an outlier among Washington, DC policymakers.

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