Coinbase, a trading cryptocurrency platform, has announced on September 14 2022 that the firm plans to start integrating crypto policy effort into its app.
This plan was announced by the firm Co-founder and CEO, Brian Armstrong on his twitter, saying “ Starting today, Coinbase will begin integrating our crypto policy efforts right into our app.”
This announcement was released after Chief Policy Officer of Coinbase, Faryar Shirzad tweeted “The leaders we elect this November will be the ones making critical decisions about the future of crypto, blockchain, and web3 – and about your economic freedom.”
Educating Users on Political Leader’s Position Toward Cryptocurrency
According to the CEO, the integration will help their 103 million verified users to know and understand their local political leaders’ and representatives’ positions toward cryptocurrency.
The Coinbase app allows users to track how members of congress stand on crypto policy, as well as register to vote and keep track of local town hall meetings.
Additionally, he mentioned the company’s plans to expand geographical coverage and add relevant data to candidate profiles.
Furthermore, Armstrong also said that it will “help pro-crypto candidates solicit donations from the crypto community (in crypto)”.
“Crypto advocacy is very important for our mission of increasing economic freedom in the world, and Coinbase will do its part to help. But the crypto community is much bigger than Coinbase – hopefully we can all rally to engage elected leaders and drive sensible policies,” added him.
The Way Integration Works
Some of the information used by Coinbase is compiled by CryptoActionNetwork (CAN), a 501(c)(4) non-profit organization dedicated to promoting cryptocurrency growth and security.
A scorecard created by CryptoActionNetwork will be used by Coinbase to grade each member of congress based on their publicly available statements and actions on crypto policy. The grading system will range from “A” to “F”.