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Coinbase CEO reveals meeting with the Federal Reserve to explain the development of the crypto industry to the government

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Coinbase CEO reveals meeting with the Federal Reserve to explain the development of the crypto industry to the government

Just over a month ago, Coinbase CEO Brian Armstrong expressed willingness to actively educate U.S. lawmakers on cryptocurrency assets and the industry, but it seems there have been no further developments on this matter.

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Just over a month ago, Coinbase CEO Brian Armstrong expressed his willingness to actively educate US lawmakers about cryptocurrencies and the industry, but it seems there have been no follow-ups on this matter.

However, according to the Federal Reserve's calendar notations, Chairman Jerome Powell may have met with Brian Armstrong as early as May 11. The calendar notes the meeting time was between 11:15 and 11:45 AM, with attendees including former House Speaker Paul Ryan, although the topic of the meeting and what transpired within the half-hour remain unknown.

While there have been no official announcements from either side, looking back at Brian Armstrong's Twitter, he posted a photo with Paul Ryan on May 15 and tweeted a series of messages.

Brian Armstrong's tweets mentioned how Coinbase is actively engaging with global government legislative departments, stating, "I'm excited to see the US embrace this new industry (crypto)."

"The goal is to build relationships and help demystify crypto issues. Let's see what we can do to help the US get more clarity on regulatory direction in this area, as a reference for establishing a new crypto department."

Following the meeting with Brian Armstrong, Powell met with former Commodity Futures Trading Commission Chairman Christopher Giancarlo the next day to discuss issues related to the digital dollar proposal Giancarlo is planning.

Since mid-June, Coinbase has been outspoken about making all legal cryptocurrencies available on its platform, expanding its operational scope, even as the US has yet to establish cryptocurrency regulations and continues to crackdown on related industries. As the largest crypto exchange in the US flourishes, it seems the US government's approach to crypto trading is beginning to take shape.

This article is authorized for reprint from Horizon News Network

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