Brian Armstrong Of Coinbase Said That The FIT21 Vote Was Memorable. - CMN | Latest Cryptocurrency News Today | Live Crypto Price

Regarding the House of Representatives’ vote on FIT21, Coinbase CEO Brian Armstrong expressed his opinion and thought it was really exciting. He also talked extensively about the 21st Century Act’s use of technology and financial innovation. He thinks the vote will contribute to the clarification of cryptocurrency legislation.

Armstrong went on to say that every American has a right to know that their politicians are defending their rights when it comes to using cryptocurrency. Implementing laws guaranteeing consumer protection and prohibiting non-state actors from upsetting the cryptocurrency market are other measures. He concluded by clapping together with Stand With Crypto, an advocacy group.

FIT21 aims to provide a robust regulatory framework for digital assets. It is said that the Biden administration opposes the plan because they believe it offers no protections for consumers or investors in online assets.

The SEC filed a complaint against Coinbase in the middle of last year because it believed the company was in violation of the securities rule. Thirteen cryptocurrencies, including Cardano and Solana, were sued for passing them off as securities. This happened after the SEC published a Wells Notice criticizing Coinbase.

Coinbase has been saying for a while now that the United States needs more clarification on the laws that are currently in place regarding digital assets. It took it a step further in March 2024, submitting a petition to the appeals court requesting that the SEC establish a robust regulatory framework that would benefit all parties involved in the cryptocurrency space.