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For the First Time After Lawsuit with SEC Brian Armstrong Sets Out to Meet with House Democrats

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Coinbase is a United States-based company that has been pushing the regulators to consider the 2 bills which are in circulation recently.

These bills aim to offer the appropriate guidance on how cryptocurrency exchanges can register with the financial regulatory authorities.

Brian Armstrong, Coinbase CEO has been seriously soliciting for a clearer regulation for digital assets in Washington.

In his bid for more clarity for crypto rules, he even criticized Gary Gensler, SEC Chair vocally by calling him an “outlier” amid Washington policymakers.

READ ALSO:Just In: United States SEC Accepts Application of Valkyrie Spot Bitcoin ETF

He declared through a Twitter post that he is anticipating working together with all regulators and authorities globally who are ready to set clear rules for the crypto industry regulation.

In A Brief

  • Reportedly, by Wednesday, July 19, Brian Armstrong will be having a private meeting with the House Democrats to discuss crypto.
  • According to reports, Coinbase CEO’s behind-closed-door meetings with the lawmakers will involve crypto regulations as well as other connected issues regarding national security, taxation, climate, and privacy.
  • Those that will partake in the meeting are the members of the New Democrat Coalition which is a political section of more than 100 Democrats who are devoted to pro-economic development, fiscally responsible standards, and pro-innovation.
  • At present, the 2 largest cryptocurrency exchanges, Coinbase and Binance are struggling with the legal action slapped on them by the US Securities and Exchange Commission (SEC) for an alleged failure to register their business operations with SEC.
  • The result of the lawsuit by the SEC against these giant exchanges will likely have a notable impact on the cryptocurrency market. Moreover, it may set the Securities and Exchange Commission’s control over the crypto industry which has been in a long deliberation that tokens shouldn’t be classified as securities. As a result, shouldn’t be subject to SEC’s regulations.
  • Both Binance and Coinbase denied the allegations of SEC and showed their intentions to intensively defend themselves in a court of law.
  • Meanwhile, Coinbase has not offered any statements on the ongoing matter apart from its normal business hours.

What Is Happening In Crypto Today?

As of the time of this writing, the price of Bitcoin has reduced to $29,892.11 with a reduction in its market cap by 0.70% and an increase in trading volume by 43.43%.

On the side of Ethereum, it is currently trading at $1,891.03 which is also a price decrease. Its market cap also declined by 0.58% and an increase is seen in its trading volume by 30.67%.

  • Meanwhile, Dogecoin DOGE is trading at $0.06816 with a decline in market cap by 1.55% and a decline also in volume by 28.93%.
  • Cardano‘s price at the moment is at $0.3045 with a decrease in market cap by 2.04% and an increase in volume by 3.99%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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