The proposed legislation regulating the cryptocurrency market, which has been on the agenda in the US for some time, will also be discussed in Davos.
With the US bill regarding the structure of the cryptocurrency market currently stalled, global discussions will continue in Davos.
Coinbase CEO Brian Armstrong announced that they will be discussing the US cryptocurrency bill with banks in Davos.
In a video message released on X, Coinbase CEO said that he will continue working on the US cryptocurrency market structure legislation bill at the World Economic Forum (DAVOS) in Switzerland, which will be attended by US President Donald Trump and many European leaders.
Armstrong added that Coinbase would be actively working on the bill throughout Davos and would hold further meetings with bank executives to close any remaining gaps.
“This week in Davos, we will continue discussions on the US digital asset market structure proposal. Through further meetings with bank CEOs, we will work to reconcile the remaining points of disagreement.”
Armstrong also stated that stablecoins should create a level playing field for both crypto companies and traditional banks, and that he would relay the content of the Davos discussions to the US Senate and administration to help advance legislation.
As is known, Coinbase withdrew its support for the market structure bill last week after reviewing the updated text of the Senate bill. Armstrong stated that some provisions in the draft text pose serious risks to the industry. Armstrong also noted that some proposed changes in the draft could eliminate stablecoin rewards and give banks the power to restrict competition.
*This is not investment advice.
