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
Pelosi,
the
Speaker
of
the
House
of
Representatives,
while
Republicans
accounted
for
the
remaining
208
votes.
Furthermore,
8
House
Democrats
signed
a
memo
supporting
the
Republican-devised
initiative
to
further
demonstrate
the
wide-range
bipartisan
support
for
the
bill.

Thus
far,
the

Coinbase

CEO
has
expressed
his
pleasure
in
this
bill,
which
he
sees
as
a
historic
decision
that
might
lead
to
the
provision
of
the
crucial
regulatory
framework
and
investor
protection
that
the
digital
asset
industry
needs.
“I’m
Glad
to
see
the
voice
of
the
crypto
voter
having
an
impact,”
he
stated.

Optimistic
Outlook
For
The
Crypto
Space

Lately,
the
cryptocurrency
market
has
been
experiencing
a
surge
in
positive
sentiment
due
to
growing
public
awareness
and
adoption
from
well-known
figures
like
former
US
President

 

Donald
Trump,
who
has
declared
himself
a
pro-crypto
candidate
for
the
upcoming
presidential
election.

The
former
president
even
went
as
far
as
to
announce
his
acceptance
of
political
donations
in
the
form
of
cryptocurrencies
for
his
campaign
through
Coinbase
Commerce.
By
accepting
digital
currencies,
the
presumed
Republican
presidential
nominee
in
this
year’s
election
became
the
first
of
a
major
party
to
do
so.

He
has
also
promised
to
spur
innovation
and
establish
the
US
as
a
leader
in
the
sector,
urging
digital
asset
supporters
to
vote
for
him
in
the
coming
elections.

Featured
image
from
YouTube,
chart
from
Tradingview.com

Go to Source
Author: Godspower Owie

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