Coinbase Launches Campaign For Pro-Crypto Policies In U.S.
The #Crypto435 Campaign
Top US crypto exchange Coinbase has recently announced that it has launched a grassroots political campaign named the #Crypto435 campaign that aims to promote pro-crypto policies in the United States.
“If you love crypto and believe in the potential of web3, it’s more important than ever to advocate for pro-crypto policy in the U.S. Policymakers in Washington DC and state capitals across the US are making decisions about the future of crypto. Their choices will determine how, when, and where YOU can build, buy, sell, and use crypto. We need to make sure they get it right, and that means making your voice heard.” Coinbase wrote.
The last crypto law made in the U.S. was in 2021 when congress made a small tax provision. Aside from this, however, no other laws or legislations have been made to guide crypto companies on how they can run their business to comply with regulations.
“The crypto community has reached an important moment. Decisions being made by legislators and regulators in DC and around the country will impact the future of how we can build, buy, sell, and use crypto.” Coinbase tweeted.
1/ It’s time to advance pro-crypto policy in all 435 Congressional Districts across the U.S.
Introducing #Crypto435, our campaign to grow the crypto advocacy community and share tools and resources to make your voice heard.
Become an advocate today 👇 https://t.co/TPJhtoP9eC
— Coinbase (@coinbase) February 28, 2023
Coinbase vs SEC
The announcement of Coinbase’s new campaign comes just weeks after the crypto exchange’s battle against the pressures from regulators like the U.S Securities and Exchange (SEC).
Earlier this February, Coinbase CEO Brian Armstrong addressed rumors that he had heard of the SEC potentially wanting to ban retail investors from engaging in cryptocurrency staking. With staking making up around 11% of Coinbase’s revenue, Armstrong stated that he and his crypto exchange are ready to happily defend staking in court if needed.
“We need to make sure that new technologies are encouraged to grow in the US, and not stifled by lack of clear rules.” Armstrong wrote at the time.
The Coinbase CEO has also previously voiced his complaint towards U.S regulators’ lack of clear regulations for crypto many times in the past.