Coinbase is actively engaging in lobbying efforts in Washington D.C. aimed at securing regulatory clarity for the crypto sector, reports say.

The proposed regulations, previously greenlit by both the House Financial Services Committee and the House Committee on Agriculture, hold the potential to streamline compliance procedures for cryptocurrency firms.

Coinbase's CEO, Brian Armstrong, spearheaded a delegation of 40 crypto entrepreneurs from the United States to advocate for the implementation of clear and unambiguous laws in the crypto space, aligning with the standards upheld by other G20 nations.

The campaign materialized as a response to Coinbase's legal battle with the U.S. Securities and Exchange Commission (SEC), which initiated a lawsuit against the exchange in June, alleging violations of securities laws.

Amid its recent efforts, Coinbase faces formidable challenges, including budgetary discussions at the federal level and a heightened focus by the Senate on combating crypto-related money laundering.