Coinbase Chief Executive Brian Armstrong will interact confidentially with a group of U.S. House of Representatives Democrats on Wednesday morning. This meeting is to make an opinion on the future aspect of digital asset legislation.
This meeting is scheduled between Coinbase and Binance, which are the world’s largest crypto exchanges. Since they engage in lawsuits brought by the U.S Securities and Exchange Commission. The legal action is for being unable to register their operations with the agency.
In this meeting, Armstrong will also discuss various related concerns. It includes ax, national security, privacy, and climate. This information has been revealed by a New Democrat Coalition spokesperson in one of its emailed statements. While Coinbase did not respond to a request for comment outside business hours.
In the event that the SEC charged are found to be true then they could transform the crypto market and successfully claim the SEC’s jurisdiction over the industry. As there has been an argument that tokens do not constitute securities and should not be operated by the commission.
On the other hand, both Coinbase and Binance refuse the SEC’s charges. Also, they guarantee to energetically defend themselves in court. Armstrong is a straightforward SEC critic who has called SEC Chair Gary Gensler an “outlier” out of Washington policymakers.