The meeting will focus on digital asset legislation and related issues, including tax regulation, national security implications and privacy concerns.
Brian Armstrong pushes for clearer rules and guidelines for the digital asset marketplace. Armstrong has often criticized the Securities and Exchange Commission’s (SEC) actions for fines and bans against cryptocurrency companies.
Coinbase, one of the largest cryptocurrency exchanges in the world, recently faced a lawsuit from the SEC. The SEC itself claims that the cryptocurrency exchange violated U.S. securities laws. Coinbase responded by filing a motion to dismiss the lawsuit, calling it an “extraordinary violation of due process.”
Armstrong recently said that U.S. regulators’ negative stance on cryptocurrencies plays into the hands of China and other countries. The businessman believes the 2024 U.S. presidential election could be a turning point for the crypto industry.