Coinbase Spearheads Campaign to Promote Pro-Crypto Policies
- Crypto exchange Coinbase has announced a new political campaign called #Crypto435 to promote pro-crypto policies in the United States.
- The goal is to “grow the crypto advocacy community and share tools and resources.”
- #Crypto435 will allow the voices of crypto enthusiasts to reach the regulators across the 435 congressional districts. .
- Coinbase believes that there is a pressing need for “thoughtful policymaking and smart regulation” in the crypto space.
- #Crypto 435 will influence laws and policies; bring the crypto community together; promote innovation and protect jobs as well.
The largest exchange in the United States, Coinbase, has announced a new political campaign to promote pro-crypto policies in the region and improve the struggling condition of the industry due to a lack of solid regulations and an increase in the number of cases of regulators cracking down on crypto firms. This campaign comes at a time when the industry is facing a drop in trading volumes and a lack of capital inflow as well.
The campaign was confirmed by Coinbase in a post on the social media platform Twitter on Feb. 28, and it was revealed that the name of the campaign is #Crypto435. It is crucial to note that the goal of #Crypto435 is to “grow the crypto advocacy community and share tools and resources” so that it is possible for investors, developers, and entrepreneurs that are part of the crypto industry to allow their voices to reach the regulators across the 435 congressional districts of the US.
“If you believe in crypto and the potential of web3, now is the time to make your voice heard with legislators and regulators,” said Coinbase while noting that the crypto industry has reached a crucial moment in history where regulators in DC and other parts of the US are making decisions that will impact the future of the blockchain-based asset class and how they are bought, sold, or stored.
“Coinbase will empower the #Crypto435 community with information about how to contact specific politicians in their local districts, what those politician’s records on crypto are, tips for making your voices heard in D.C., and more,” said the exchange in a Twitter post.
Coinbase noted that there is a pressing need for “thoughtful policymaking and smart regulation” in the crypto space to allow the development of the blockchain and Web3 industries. Further, the exchange has asked people to join it to “shape the policies and regulations that will impact crypto and Web3 for years to come.”
It is also important to note that #Crypto 435 will influence laws and policies; bring the crypto community together; promote innovation and protect jobs, and educate everyday Americans about the power of crypto. The exchange led by CEO Brian Armstrong will play an important role in the same.
Armstrong recently posted that “it’s time to update the financial system,” via his Twitter account while sharing the results of a Morning Consult survey. The survey stated that around 76% of crypto investors agree that cryptocurrency and blockchain are the future of the financial world, while adding that 80% of Americans believe that the global financial system unfairly favors the powerful. Additionally, 67% of Americans believe that the financial system needs major changes or “a complete overhaul.”
As reported earlier by BitcoinWisdom, Coinbase is currently experiencing a drop in trading volume and has decided to list a Euro-backed stablecoin called EuroCoin to boost activity on the exchange. Moreover, the exchange has put a halt to creator Drops on its NFT platform to focus on other features.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
