Skip to main content

Coinbase launches grassroots campaign for pro-crypto policy in the U.S.

The company provided a link for voters to sign up so that they can gain information about local politicians’ crypto policies

Coinbase has launched a grassroots political campaign to promote pro-crypto policies, according to a Feb. 28 Twitter thread from the company.

The company said that the #Crypto435 campaign is intended to “grow the crypto advocacy community and share tools and resources,” so that crypto users can make their voices heard in all 435 congressional districts.

Coinbase provided a link to a signup page asking users to provide a name, address, phone number, and email address to receive further information. It claimed that it will provide people who sign up 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.”

In the thread, Coinbase argued that the crypto community has reached a “pivotal moment” in which political action will now be necessary, stating:

“The crypto community has reached an important moment. Decisions being made by legislators and regulators in DC and around the country will impact the future of how we can build, buy, sell, and use crypto.”

The announcement had mixed reactions from Twitter users. Many applauded the move with statements like “Crypto is what we can all come together and support.” and “Good stuff Coinbase. Very important!” At the same time, some XRP fans alleged that the announcement was hypocritical. They felt that if Coinbase really wanted to fight the powers that be, it would not have delisted XRP after the Securities and Exchange Commission (S.E.C.) labeled it as a security.

Aside from a small tax provision enacted in 2021, the U.S. Congress has not passed any laws defining what a cryptocurrency is or legislating how specifically crypto businesses can comply with regulation.

This is in contrast to Singapore, where the legislature passed a law that specifically spelled out the requirements for operating a crypto-related business in the country.

S.E.C. Chair Gary Gensler has argued that existing U.S. securities law applies to crypto in some cases. But Nexo and other crypto companies have claimed that current U.S. laws are so vague the industry doesn’t know how to comply with them.

The issue of crypto regulation continues to be hotly debated both inside and outside the crypto community. Crypto companies have donated to lobbying groups in the past. But this appears to be one of the first times a crypto company has tried to organize a grassroots political campaign.



from https://ift.tt/cibJuaL
https://ift.tt/Cv7Wbqd

Comments

Popular posts from this blog

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community.  Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for  resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...

How Social Platform Chingari is Using Web 3.0 to Transform the Traditional Way We Use Social Media

The world is changing. This isn’t news to anyone, but sometimes it is nice to realize that—contrary to news headlines—not all the change is bad.  In fact, the last decade has seen so much innovation and so many improvements to technology that even 2015 seems like a different world.  Internet speeds, connecting with anyone globally (for free), and our ability to reach large groups of people without a middleman is nothing short of revolutionary. When it comes to technology evolution, this often happens with different iterations.  Once a system is mature, there’s a better idea of what we would like to change and improve.  We go back to the drawing board, target our creative minds at the issues, and create a new version that has evolved to better meet our needs.  The Internet has followed this model since its inception, evolving through three distinct stages.  We are only at the cusp of the third stage, called Web 3.0, with technologies such as blockchain and ...

INX submits bid for Voyager Digital's assets

FTX US won a $1.4-billion bid to purchase Voyager’s assets in September, but with the firm filing for bankruptcy, the funds were once again up for grabs. Trading platform INX has submitted a bid for an undisclosed amount to purchase the assets of crypto brokerage firm Voyager Digital. In a Nov. 30 announcement, INX said it had sent a non-binding letter of intent for Voyager’s assets following the platform filing for bankruptcy in July. According to INX CEO Shy Datika, the bid was aimed at providing “credibility, technology, and unique regulatory positioning” for Voyager users seeking stability in a volatile market. Voyager’s original bankruptcy filing from the Southern District Court of New York suggested the firm could owe between $1 billion to $10 billion to more than 100,000 creditors amid a bear market and exposure to Three Arrows Capital. In September, FTX US won a $1.4-billion bid to purchase Voyager’s assets, but with FTX Group itself filing for bankruptcy in November, th...