Crypto executives descend on Washington for a victory lap
2 weeks, 5 days ago

Crypto executives descend on Washington for a victory lap

CNN  

A version of this story appeared in CNN Business’ Nightcap newsletter. Friday’s meeting will bring together a tight-knit circle of crypto elite, including Coinbase CEO Brian Armstrong and billionaire tech entrepreneur/bitcoin hype man Michael Saylor, among others. “I think the most important thing that’s going to happen tomorrow is all of us are going to express our gratitude to the president for… laying out a really positive and ambitious agenda for the US to be a crypto leader in the world,” Faryar Shirzad, chief policy officer at Coinbase, told me. And I think it’ll be an opportunity to thank him for giving us the room to do that, and take the US back into a leadership position.” Aside from the genuflection to President Donald Trump, the agenda is likely to be a grab-bag of industry priorities — the various pieces of legislation making their way through Congress, guidance on a regulatory framework, removing the capital gains tax on crypto, etc. “Once you have that, then you’ve got building blocks and the regulatory framework that allows all of us in the industry to invest, build and essentially update the financial system.” While crypto’s elite take a moment to soak up all the optimism, it’s worth remembering this is an asset class that’s synonymous with volatility.

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