Coinbase Executive To Meet With House Democrats Over Crypto Legislation

Coinbase's chief legal officer will meet Democrats in the House of Representatives this week to discuss the company's controversial cryptocurrency listing with privacy features.

The meeting between Rep. Maxine Waters (D-California) and Mike Lempres, Coinbase's chief legal officer and chief risk officer, came after Waters urged the SEC to stop trading on EtherDelta, which she said acts like a valuable cryptocurrency exchange. not recorded.

Waters also claims that the recent subpoena from his committee shows that EtherDelta's owners have engaged in illegal activity.

EtherDelta is a decentralized exchange for Ethereum-based tokens without a central operator. It uses smart contracts – blockchain software that executes code when certain conditions are met – to facilitate transactions between buyers and sellers.

In response to Waters' letter, Lempres wrote that EtherDelta has partnered with regulators and voluntarily implemented new measures designed to prevent fraud while preserving its decentralized nature. He added that EtherDelta recently implemented KYC/AML requirements for users in the United States who wish to trade over $10,000 in crypto on the platform per day, or a total of over $20,000 per month on the platform.

We have provided information about our relationship with EtherDelta, Lempres wrote in the letter to Waters.