Armstrong claims that, if passed, legislations would help secure digital assets, stimulate technological innovation, and strengthen national security.
Brian Armstrong, the Chief Executive Officer of the prominent cryptocurrency platform Coinbase, has issued a call to action for United States residents.
Coinbase CEO urged citizens to encourage their elected representatives to support the Financial Innovation and Technology for the 21st Century Act (FIT21), a bill aimed at providing much-needed regulatory clarity in the burgeoning crypto sector in the US.
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The FIT21 and the Blockchain Regulatory Certainty Act, another legislation focused on crypto, won favor from lawmakers who voted on the bills on July 26th. The legislations aim to resolve the ambiguities regarding the regulatory jurisdictions that handle securities and commodities within the US crypto industry.
Using his X platform, Armstrong urged Americans to voice their support for the FIT21 bill as the voting continues.
The CEO of Coinbase acknowledged that while the legislative procedure could see further amendments to the bill, the voting outcome would help secure digital assets, stimulate technological innovation, and strengthen national security.
In addition to these key points, the crypto exchange Coinbase underscored the potential of such legislation to stimulate job growth domestically. With such legislation, crypto-based businesses contemplating relocation to other countries might reconsider and continue contributing to the American job market.
The uncertainty surrounding US crypto regulations has prompted many companies in the sector to investigate friendlier regulatory climates elsewhere.
On May 8th, Armstrong traveled to the United Arab Emirates, assessing its viability as a strategic base for Coinbase. Shortly after, Binance also started exploring the possibility of making UAE its strategic hub.
Amstrong has been actively pushing US lawmakers to pass crypto regulations. On July 19th, the man even participated in a closed-door meeting with Congressional members to discuss digital asset legislation.
The impassioned plea from Coinbase's CEO, Brian Armstrong, for public engagement in support of crypto-friendly legislation highlights the critical importance of such bills in defining the future of digital assets. The wide-ranging implications of such laws underscore their significance in sculpting America's digital economic landscape.
