In a recent blog post titled “How to get regulatory clarity for crypto,” Coinbase CEO Brian Armstrong emphasized the importance of securing regulatory clarity for the crypto industry. He called for a concerted effort to support pro-crypto political candidates and remove anti-crypto incumbents from office. Armstrong highlighted the significant investment Coinbase has made in policy efforts and its commitment to continue these investments over the coming decade as crypto regulations evolve globally.
Armstrong acknowledged the challenges posed by the current political climate, stating that in a divided government, the default is that nothing will happen unless the cost of inaction is greater than doing the right thing. To navigate these challenges, he called for a bipartisan effort to elect pro-crypto candidates. With 52 million Americans owning digital assets, Armstrong emphasized that the crypto community is a significant and diverse portion of the electorate, cutting across political lines and demographics.
Coinbase has supported StandWithCrypto.org, a grassroots movement that has amassed over 900,000 advocates nationwide, particularly in battleground states like Georgia and Arizona. These advocates have actively reached out to their congressional representatives, influencing key legislative votes. Coinbase plans to support StandWithCrypto.org in mobilizing over 1 million advocates by Labor Day, providing resources such as candidate scorecards, tools to contact representatives, donation options, and voter registration assistance.
Key Political Races
Armstrong identified key political races, including those 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. He emphasized the need for clear rules that protect consumers and allow innovation to happen in America, pointing out that 52 million Americans have owned crypto and share this desire for regulatory clarity.
Armstrong stressed the importance of updated financial infrastructure and economic freedom, highlighting the necessity of political action to achieve regulatory clarity for the crypto industry. By actively supporting pro-crypto candidates and engaging in the political process, the crypto community can influence the development of legislation that supports innovation and consumer protection within the digital asset space.