Coinbase, the largest US cryptocurrency exchange and one of the industry’s top political donors, on Wednesday outlined its legislative priorities after spending tens of millions of dollars that helped Republicans win control of Washington in 2024.
The blueprint, first reported by Semafor, could be an influential roadmap for Washington as the industry transitions from being a regulatory target under the Joe Biden administration to an embraced sector under President Donald Trump.
A major change proposed by Coinbase would be to shift oversight of crypto spot trading to the Commodity Futures Trading Commission because the firm considers Bitcoin, Ethereum, and other similar digital assets to be commodities instead of securities, an idea challenged by the bigger Securities and Exchange Commission under Democratic leadership. That would overhaul how agencies regulate the nearly $3.3 trillion market.
Though the regulators can implement some…
