Key Takeaways:
- Cryptocurrency exchange Coinbase has launched the #Crypto435 political initiative to encourage pro-crypto laws in the US.
- Coinbase hopes to raise awareness of the crypto community in all 435 of the country’s congressional districts through its new initiative.
Coinbase has launched a new political campaign to advance pro-crypto policies in the United States. As per the exchange, this has been done to improve the industry’s precarious state as a result of an absence of proper regulation and a spike in the instances of regulators clamping down on crypto firms.
The owner of a cryptocurrency exchange posted a link to an online petition along with an announcement about a campaign to advance “pro-crypto policy in all 435 House Districts across the U.S.” on Twitter.
The cryptocurrency exchange is keen to have an impact on lawmakers and regulators who will probably decide how individuals and businesses can purchase, sell, and trade digital assets.
In addition to their contact details, backgrounds with regard to crypto policy, and advice on how to ensure those with a voice are heard, local politicians and the cryptocurrency landscape will be covered in a variety of recommendations provided by Coinbase to the community.
The #Crypto435 campaign, according to the business, aims to expand the crypto advocacy network and share resources and instruments so that cryptocurrency users can have their views represented in all 435 congressional districts.
After FTX‘s disastrous collapse in November, congressional and regulatory interest in cryptocurrency and more particularly, suspicion of it has increased. The political debate over cryptocurrency regulation in Washington has taken a bad turn as both experts and the Senate Banking Committee have called for restrictions on the industry’s access to the financial system.
The progress of Web3 and cryptocurrencies would ensure that economic freedom would increase, according to Coinbase, and it was necessary for mindful policies to ensure that.
Furthermore, Coinbase stated that the campaign effort will inform Americans about the potential of cryptocurrencies and bring people together because “there is strength in numbers.“
In order to obtain more information, Coinbase has set up a signup page where users are encouraged to enter their name, address, phone number, and email address. The website guarantees that users who sign up will receive information on how to get in touch with particular politicians based on their local districts and positions on cryptocurrencies. In addition to other important information, Coinbase promised to provide advice on how to make your voice known in Washington, D.C.
Armstrong shared that “it’s time to update the financial system,” via his Twitter while revealing the findings of a Morning Research poll.
According to the poll, 76% of cryptocurrency investors concur that blockchain technology and cryptocurrencies will shape the future of finance, while 80% of Americans think the wealthy are unduly favoured by the worldwide banking system.
