In a recent blog post, Coinbase CEO Brian Armstrong stressed the need for regulatory clarity in the crypto industry. He highlighted the significant investment Coinbase has made in policy efforts and emphasized the company’s commitment to continuing these investments as regulations evolve globally. Armstrong outlined two primary paths to achieving regulatory clarity: creating new case law through the courts and passing new legislation through Congress. However, he also acknowledged the challenges posed by the current political climate.
To address these challenges, Armstrong called for a bipartisan effort to support pro-crypto candidates and remove anti-crypto politicians from office. He pointed out that with 52 million Americans owning digital assets, the crypto community represents a significant and diverse portion of the electorate. Armstrong emphasized that crypto owners come from various backgrounds and political affiliations, making crypto a truly bipartisan issue.
Coinbase is supporting the StandWithCrypto.org movement, which has garnered over 900,000 advocates nationwide, especially in key battleground states like Georgia and Arizona. These advocates have actively engaged with their congressional representatives, influencing important legislative votes. The organization provides resources such as candidate scorecards, tools for contacting representatives, donation options, and voter registration assistance. Coinbase aims to mobilize over 1 million advocates through StandWithCrypto.org by Labor Day.
Armstrong identified key political races for the House, Senate, and the Presidency as crucial for the future of crypto legislation. He urged crypto holders to participate in the upcoming elections and support pro-crypto candidates who prioritize clear rules that protect consumers and foster innovation in America. Armstrong emphasized the importance of updated financial infrastructure and economic freedom for the growth and sustainability of the crypto industry.
Overall, regulatory clarity is essential for the continued development and adoption of cryptocurrencies. By supporting pro-crypto political candidates and actively participating in the political process, the crypto community can influence policy decisions that shape the future of the industry. It is crucial for stakeholders to come together in a bipartisan effort to advocate for clear and fair regulations that promote innovation and protect consumers.