Brian Armstrong, CEO of cryptocurrency exchange Coinbase, stated that despite the company's attempts to seek clarification from regulatory authorities, it is still facing criticism from the SEC. He stated that Coinbase has met with the SEC 30 times in the past 18 months. He said, "Apart from Bitcoin, we haven't really received any feedback from them about which assets they believe are securities and which are not. All we received was a Wells notice." Armstrong said that if the company cannot obtain clarification from the SEC, "we need to use the courts to establish precedent," and he also hopes that "Congress will take action and pass new legislation," mentioning two bills currently under consideration in the House of Representatives.