Regulation
Coinbase CEO Brian Armstrong Says ‘Both Sides’ Must Address ‘Untenable’ Regulatory Situation – Coinbase Glb (NASDAQ:COIN)
Coinbase Inc. CEO of COIN Brian Armstrong On Thursday, he stressed the importance of a bipartisan approach to the regulation of cryptocurrencies.
What happened: In a discussion with Ark Invest CEO Cathie BoisHigh wood Donald Trumpwho recently declared himself “crypto president” during a campaign event.
Trump also met with executives from major Bitcoin mining companies earlier this week. “Of course, some people consider it very controversial,” Wood said. according to at DL News.
Nonetheless, she noted that Trump’s support for cryptocurrency has “educated those who haven’t taken a closer look at what this movement is,” emphasizing the bipartisan nature of the issue.
Armstrong responded to Wood’s comments without directly mentioning Trump.
“Both sides recognize that they need to resolve this,” he said, highlighting crypto’s arrival on the national scene.
Throughout the discussion, Armstrong emphasized the importance of bipartisan support for cryptocurrency, highlighting his recent meetings with up to 13 senators in Washington to discuss the issue.
Armstrong’s strategic neutrality reflects a broader campaign among crypto industry leaders to elevate digital assets as a national issue.
“We need clear rules in the United States,” he said, referring to the current regulatory landscape for cryptocurrencies. “The current situation is untenable.”
Why is this important: In preparation for the upcoming state and national elections, Armstrong and other influential figures in the crypto industry have pooled substantial resources to support pro-crypto candidates.
FairShake CAPa political action committee founded in December to promote legislation friendly to digital assets, has collected nearly $93 million in donations, according to the Federal Election Commission.
Major donors include the Winklevoss twins, Coinbase, Ripple XRP/USD, Marc AndreessenAnd Ben Horowitz.
Additionally, Stand With Crypto, a nonprofit launched by Coinbase last year, launched its own PAC in March to support pro-crypto candidates.
Major figures in the industry, including Ryan SelkisCEO of MessariAnd David Baileyboss of Bitcoin Magazinepublicly supported Trump.
And after: As the cryptocurrency landscape continues to evolve, key insights and developments will be explored at Benzinga. The future of digital assets event on November 19.
Read next: Bitcoin Back Above $67,000 Despite $226 Million ETF Outflows on Thursday
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