FX168 Financial News (Asia-Pacific) reports that Donald Trump, the President-elect of the United States, will have a private meeting with Brian Armstrong, the CEO of the cryptocurrency exchange Coinbase, later on Tuesday, November 19th. It is expected that the two will discuss new government personnel appointments. Armstrong has publicly proposed that 'crypto mom' Peirce be appointed as the next chair of the U.S. Securities and Exchange Commission.

This meeting marks the first time Trump has met with Armstrong since his election victory. Trump previously held a skeptical attitude towards cryptocurrencies, but in recent years has become a public supporter of the industry.

(Source: WSJ)

Earlier this year, he stated at the Bitcoin 2024 conference that if elected, he would establish a Bitcoin and Cryptocurrency Presidential Advisory Committee to develop transparent regulatory guidelines.

Armstrong has previously publicly proposed that the current SEC commissioner appointed by Trump, Peirce, be appointed as the next chair of the U.S. Securities and Exchange Commission. Additionally, it was reported that Coinbase donated over 0.1 billion USD to multiple political action committees before the election, with 40 million USD used to support pro-cryptocurrency candidates.

In September of this year, Coinbase stated in a filing to the federal appellate court that its goal is to pressure the U.S. SEC to establish new rules for digital assets.

In 2023, after regulatory agencies rejected their request to establish new rules, Coinbase sued the U.S. SEC in an attempt to compel them to do so.

Coinbase hopes the U.S. Securities and Exchange Commission will clarify when digital assets are considered securities and create a market structure framework compatible with cryptos, while regulatory agencies state that existing regulations can cover the crypto industry.

In addition, in September, Coinbase announced plans to continue its "policy expansion" during and after the U.S. presidential election period due to issues in other regions around the world.

Coinbase's CFO Alesia Haas stated at the time's meeting that regulation of cryptos would bring more clarity to the industry. Coinbase is pleased to see efforts from both parties to seek such legislation and the company is willing to collaborate with any regulators or legislators in doing so.

In May, it was reported that Political Action Committees (PACs) supported by the crypto industry, including Coinbase and Armstrong, have become one of the top three fundraisers for the 2024 election season.

According to Reuters, as lawmakers and regulatory agencies scrutinize the crypto industry, crypto Super PACs are raising funds in hopes of influencing policies.

Coinbase's Chief Legal Officer Paul Grewal stated in June 2023 that the company will seek legislative solutions while addressing lawsuits from the U.S. Securities and Exchange Commission.