The post Crypto Push: Coinbase CEO Engages With US Senators For Regulatory Clarity appeared on BitcoinEthereumNews.com.

In a noteworthy move for the cryptocurrency sector, crypto supporter and the Chief Executive Officer (CEO) of San Francisco-based exchange Coinbase Brian Armstrong, has met with United States Senators to advocate for a more consistent and more lucid regulation of digital assets. This engagement from Armstrong demonstrates that industry leaders are taking the initiative to collaborate with legislators to create a future in which digital assets can flourish in a transparent and safe method. Several industry enthusiasts see this step as part of Coinbase’s larger campaign, Stand With Crypto, which also intends to protect the community’s interest and unity. Need For Candid Regulatory Framework The CEO of Coinbase, Brian Armstrong, discussions with legislators occur at a critical juncture, as the industry looks for clearer legislative frameworks to assist its increasing acceptance and credibility. He has been actively advocating in Washington, D.C. for the creation of precise laws for the cryptocurrency sector.  Armstrong has spoken with over a dozen senators, both Republican and Democratic, in the last 48 hours. He also discussed the necessity of clear regulations and consumer protection in the ever-evolving world of digital currencies. He also cited the US House of Representatives’ adoption of the Financial Innovation and Technology for the 21st Century Act (FIT21) as a noteworthy milestone. “There is strong bi-partisan momentum to get this done in the Senate now that FIT21 has passed in the House,” Armstrong stated. Late last month, the US House of Representatives passed the pro-crypto law FIT21, which was a significant advancement for the country in creating transparent regulations for the digital asset landscape. A majority of the House lawmakers adopted the bill. More precisely, about 279 members voted in support of the strategy, while 139 members voted against it. Out of the 279 votes, 71 were cast by Democrats, including Nancy…

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Filed under: News - @ June 14, 2024 8:14 pm