Coinbase CEO Brian Armstrong is set to meet with President-elect Donald Trump next Monday. The main topics of discussion will include staffing appointments in Trump's administration and the future of cryptocurrency regulations in the US.
First Personal Contact Since 2024 Elections
This meeting marks the first time the two will meet since the 2024 elections. While the precise details of the conversation remain unclear, it is expected to cover important topics impacting the regulatory landscape for digital assets in the United States.
Trump’s Stance on Cryptocurrencies
During his first term, Donald Trump was known for his skepticism toward cryptocurrencies, but his views appear to have evolved significantly. Earlier this year, at a Bitcoin conference, Trump suggested the creation of a presidential advisory council on cryptocurrencies, tasked with designing clear and transparent regulatory guidelines. Brian Armstrong has made his views on crypto regulation clear, particularly in his public endorsement of Hester Peirce as the next chair of the SEC due to her more open stance on cryptocurrencies.
Coinbase’s Legal Challenges with the SEC
Coinbase has been embroiled in a legal battle with the SEC, which has been criticized for its strict stance on cryptocurrency. In 2022, Coinbase sued the SEC after the agency rejected its petition to introduce clearer rules for digital assets. The lawsuit seeks to compel the SEC to provide regulatory clarity for the crypto industry, arguing that the lack of clear rules has created a disadvantage for businesses and investors alike, stifling innovation and growth.
Trump’s upcoming meeting with Armstrong could represent an opportunity to address these issues and chart a new course for crypto regulation. The Biden administration has taken a hardline approach toward digital assets, resulting in numerous legal cases against crypto companies.
