Coinbase, the world’s second-largest cryptocurrency exchange by trading volume, would be willing to register its dormant broker dealers with the U.S. Securities and Exchange Commission (SEC) as long as lawmakers provide clear direction for the crypto industry, said Faryar Shirzad, chief policy officer at the centralized exchange.

“We need Congress to step up,” Shirzad said on CoinDesk TV’s “First Mover” on Friday. “We've got bipartisan leaders in the House, Senate [and] all relevant committees … who've all stepped up and said, ‘we want to bring crypto under regulation.’”

In contrast, Securities and Exchange Commission Chairman Gary Gensler has said the federal agency’s existing rules already provide clear regulations for crypto platforms that issue tokens, and that the agency’s securities laws could be applied directly to the crypto markets.