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Julia Smith
Author
Julia Smith
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Coinbase CEO Brian Armstrong says he is “eager” to get to work on crypto market structure legislation as key Senate Democrats are set to meet with top digital asset executives on Wednesday.
Momentum Is At An All-Time High, Coinbase CEO Says
In a Tuesday night X post, Armstrong shared that he is looking forward to speaking with U.S. lawmakers in hopes of getting the key crypto policy “done.”
“Heading to D.C. tomorrow, excited to roll up our sleeves with key decision makers to get market structure to @POTUS’s desk,” Armstrong wrote.
“Momentum for market structure clarity is at an all-time high, which is why we’ve seen both sides commit to getting to work on a bill, even during a shutdown,” he added.
Armstrong is just one of several key players in the digital asset sector joining the crypto policy roundtable.
Spearheaded by Senator Kirsten Gillibrand, the October 22 roundtable is set to feature crypto leaders, including Galaxy CEO Mike Novogratz, Chainlink CEO Sergey Nazarov, Kraken CEO David Ripley, and Solana Policy Institute President Kristin Smith, amongst others.
Crypto Proposal By Senate Democrats Gets Pushback
The meeting comes shortly after Senate Democrats unveiled their own crypto market structure proposal earlier this month.
If approved, the proposal would effectively impose Know Your Customer rules on the frontends of crypto apps, remove developer protections, and enact a “restricted list” of high-risk DeFi protocols.
In an October 9 statement, Blockchain Association CEO Summer Mersinger claimed the proposal would “drive responsible development overseas.”
“The disappointing proposal outlined by Senate Democrats would effectively ban decentralized finance, wallet development, and other applications in the United States—an outcome that’s neither workable nor consistent with American innovation,” Mersinger said.
“We urge our policymakers to stay at the table, continue to engage each other across the aisle, and ensure this critical piece of legislation supports—rather than hinders—our nation’s leadership in financial technology,” she added.
However, it is still unclear whether the Senate Democrats’ meeting with executives in the crypto space will prove fruitful when it comes to digital asset policy.
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