Coinbase CEO Says Crypto will be a Hot Topic for Next Elections
- Coinbase CEO believes that the regulation of cryptocurrencies will be a hot topic for the 2024 US presidential elections.
- Brian Armstrong claims that the current representatives in Washington are ignorant of the crypto sector’s voting power.
- He pointed out that roughly 56 million people in the US have already used cryptocurrencies.
- Armstrong recently asked crypto investors in the US to elect pro-crypto lawmakers after the SEC’s enforcement actions.
The collapse of numerous crypto firms during the past few months and the lack of regulatory guidelines for the digital asset sector will make crypto a hot topic for the upcoming presidential elections in the United States, stated Brian Armstrong, the chief executive of the largest crypto exchange in the US, Coinbase.
Interestingly, as per the Coinbase founder, the representatives in Washington do not understand the voting power that resides in the hands of the crypto community in the US for the upcoming race. Multiple firms and advocacy groups have called for the creation of a proper regulatory framework for digital assets, but the Biden administration has not been able to keep up with the explosive growth of the sector.
In an interview with Yahoo Finance, Armstrong noted that roughly 56 million people in the US have already used cryptocurrencies. He noted that “it’s 5x as many as have electric vehicles, just as an example. And we’re voters,” while adding:
“I don’t think everybody in D.C. actually fully realizes how powerful the crypto voting community block is. And I think 2024 is an election where the voters of America are really going to hold candidates’ feet to the fire and say, what is your position on crypto?”
As per the Coinbase CEO, the significant gap created between the American crypto community and the current crypto policies will lead to the digital asset space becoming a hot topic in the 2024 presidential elections.
On the other hand, Coinbase has remained vocal in its call for better regulatory measures in the United States. As per an earlier report from BitcoinWisdom, Armstrong recently asked crypto investors in the US to elect pro-crypto lawmakers. The exchange also debuted the Crypto435 campaign to “grow the crypto advocacy community and share tools and resources.”
More importantly, Coinbase also kicked off a new NFT campaign called “Stand With Crypto” on April 25 after filing an action to force the US Securities and Exchange Commission to respond to its regulation petition.