Coinbase vs SEC: The fate of cryptos is being played out in Congress

The crypto firm Coinbase is, like Binance, one of the many targets of the SEC. The company is sued by the regulator who accuses it of violating securities law. His boss Brian Armstrong announced that he would do everything possible to defend the rights of his company.

Armstrong/Congress meeting: crypto regulation on the agenda

Coinbase CEO Brian Armstrong is expected to attend a private meeting with House Democrats. It will be this Wednesday, July 19 at the Congress. On the agenda, closed-door discussions around crypto regulation.

More specifically, the exchanges should relate to taxation, national security, privacy and climate. Hot topics that current crypto regulations do not yet clearly decide.

You must know that This meeting occurs in a particular context. A circumstance marked by the lawsuits that the crypto company has been suffering for a few weeks. The situation is itself exacerbated by uncertainty about which regulator is responsible for crypto regulation.

In the current circumstances, it is the SEC that seeks, without being authorized to take on this role. This, while the Commodity Futures Trading Commission (CFTC) is just as legitimate to take on this burden.

By meeting these Democrats in the House of Representatives, Brian Armstrong would like to move things forward in this area. This approach is not without relevance with regard to the regulatory back and forth in the American Parliament.

Indeed, several lawmakers are making efforts to introduce separate crypto regulatory bills. However, they currently have little chance of thriving due to divisions in Congress over this issue.

Anyway, the meeting between Brian Armstrong and the Democrats of the House of Representatives is to follow. It could shed some light on the future of crypto regulation. This, by establishing the role assigned to industry regulators.

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