Coinbase CEO Brian Armstrong to Meet President-Elect Trump Over Possible Crypto Regulation

The discussion will reportedly center around staffing appointments for Trump’s second administration and the future of cryptocurrency regulations in the U.S.

The 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 Evolving Stance on Crypto

During his first term, Donald Trump was known for his skepticism toward cryptocurrency, but his views appear to have evolved significantly. Trump now seems to recognize the potential of the cryptocurrency industry. 

At a Bitcoin conference earlier this year, he suggested the creation of a presidential advisory council on cryptocurrencies, tasked with designing clear and transparent regulatory guidelines.

On the other hand, Coinbase, under Armstrong’s leadership, has been a powerful voice in the cryptocurrency world. 

Armstrong has made his views on crypto regulation clear, particularly in his public endorsement of Hester Peirce as the next chair of the U.S. Securities and Exchange Commission (SEC). Peirce, a current SEC commissioner, has been a more crypto-friendly figure within the regulatory body, and Armstrong believes she would be the best choice to lead the agency.

Coinbase has also been actively engaged in shaping policy, contributing significant funds to political action committees (PACs). Armstrong and Coinbase combined to donate at least $49 million to the Fairshake PAC, which focuses on supporting candidates who favor cryptocurrency-friendly policies. 

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.

Coinbase argues that the lack of clear rules has created a disadvantage for businesses and investors alike, stifling innovation and growth in the sector. 

Trump’s upcoming meeting with Armstrong could represent an opportunity to address these issues and chart a new course for crypto regulation. Under the Biden administration, the SEC has taken a hardline approach toward digital assets, resulting in numerous legal cases against crypto companies.