The Nasdaq listed crypto firm Coinbase has been meeting with the US lawmakers to discuss new crypto regulation policy, revealed the CEO Brian Armstrong. More than 30 crypto firms, four major law firms, and three trade groups have met with Coinbase to discuss the agenda.
The Crypto market has been facing problems since the proposal of Infrastructure bill was proposed and passed by the US parliament. The whole cryptocurrency market was in shock to see the passing of the bill despite their protest. Since the passing of the Infrastructure bill, Coinbase has been meeting with the members of the US congress.
Coinbase has been meeting with the US Congress memebers:
On September 22 at Techcrunch Disrupt, Armstrong revealed in an interview that the firm is working to prepare a draft regulatory framework. This draft regulatory framework will be submitted to US lawmakers. Armstrong tweeted on Thursday saying that his firm is on a mission to Influence crypto regulation in the US. He said:
We’ve now met with 30+ crypto firms, 25+ members of congress and/or staff, 4 major law firms, and 3 trade groups about our regulatory proposal for crypto. Our policy team is doing great work and we’re trying to be part of the solution.
In the interview, the CEO of Coinbase said that he is often asked by the US lawmakers whether his firm has any draft on the regulatory framework which they can push in the parliament. Coinbase has been meeting with US lawmakers, added CEO, noting that his firm is licensed in 50 states as a money lender and transmitter.
The CEO said that he and his firm is proposing a federal framework instead of states. The firm ran into a problem with the US SEC over lending product projects. In my opinion, it is a good step to propose to lawmakers what kind of regulation the crypto market wants.
For more interesting material click here.