Coinbase CEO to meet US House Democrats on Wednesday

Brian Armstrong, CEO of Coinbase, looks on during the Piper Sandler Global Exchange and FinTech Conference in New York City, U.S., June 7, 2023. REUTERS/Brendan McDermid

(Reuters) -Coinbase Chief Executive Brian Armstrong will meet privately with a group of U.S. House of Representatives Democrats on Wednesday morning and plans to make remarks on the future of digital asset legislation.

The meeting comes as Coinbase and Binance - two of the world's largest crypto exchanges - are grappling with lawsuits brought by the U.S. Securities and Exchange Commission for allegedly failing to register their operations with the agency.