The CEO of Coinbase is calling for support of legislation that would establish clear guidelines for the digital asset industry.
In a new announcement, Coinbase chief executive Brian Armstrong urges his Twitter audience to email their legislators to vote yes on the Financial Innovation and Technology for the 21st Century Act, which he says would protect both crypto and national security.
“Important action you can take to protect the value of your crypto in America: Today, two House committees started voting to take an important step on legislation that will create regulatory clarity for crypto. They will continue tomorrow.
The bill will evolve during the legislative process, but a vote today for the Financial Innovation and Technology for the 21st Century Act is a vote to protect your crypto, American innovation, and national security.”
The bill, which was sponsored by a handful of congressmen, aims to create a regulatory system for crypto assets in which the U.S. Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CTFC) are in charge.
As stated by Representative Dusty Johnson of South Dakota, one of the bill’s sponsors, in a press release,
“The digital asset space is muddled with regulatory uncertainty, lack of authority, and a lacking framework for core operating principles. The crypto industry wants clarity and our collaborative bill gives both the CFTC and SEC a seat at the table.
Our bill establishes clear principles to ensure financial security and certainty as digital asset developers continue to innovate.”
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