Brian Armstrong, CEO of the largest US-based crypto exchange, is set to address the Senate in support of legislation that would establish a formal regulatory framework for digital assets.

Armstrong’s complicated relationship with crypto legislation

Back on January 15, Armstrong publicly pulled Coinbase’s support for the Senate Banking Committee’s draft of the bill. His reasoning was blunt: the proposed language, he argued, would hand too much power to large banks and undermine competition in the digital asset space.

Armstrong described the bill’s provisions as “deeply unfair” during appearances on FOX Business and CNBC, arguing they would disadvantage millions of Americans who use crypto daily.

He framed…