TechFlow reports that representatives from Coinbase, Robinhood, and the U.S. Commodity Futures Trading Commission (CFTC) will testify before Congress at 22:00 Beijing time on June 6 to discuss a newly proposed cryptocurrency bill. The three parties will share their views on a planned legislation that could classify certain crypto tokens as digital commodities.
Coinbase Chief Legal Officer Paul Grewal stated on June 5: "Tomorrow I have the privilege of speaking before the Agriculture Committee to share Coinbase's perspective on the Digital Asset Market Structure Discussion Draft released last week." Other witnesses include former CFTC Chairman Chris Giancarlo, former CFTC Commissioner Dan Berkovitz, and Walt Lukken, founder of FIAconnect.
Grewal also expressed support for the proposal, calling it a "strong step toward providing long-overdue regulatory clarity." These actions appear consistent with Coinbase's ongoing efforts to push for more precise regulatory guidance in the cryptocurrency industry, coming one day after rival crypto exchange Binance faced 13 charges from the U.S. SEC.
