Coinbase CEO urges crypto community to oust politicians against cryptocurrency
Coinbase CEO Brian Armstrong is advocating for increased regulatory clarity in the crypto industry by encouraging support for pro-crypto political candidates and voting out anti-crypto incumbents. In a blog post titled “How to get regulatory clarity for crypto” published on June 3, Armstrong emphasized Coinbase’s significant investment in policy efforts and their commitment to continue these investments as regulations surrounding crypto continue to evolve globally.
Armstrong outlined two main approaches to achieving regulatory clarity: creating new case law through the courts and passing new legislation through Congress. He acknowledged the challenges presented by the current political climate, stating that in a divided government, action is unlikely unless the cost of inaction exceeds that of taking the right steps.
To tackle these challenges, Armstrong called for a bipartisan effort to elect pro-crypto candidates and remove anti-crypto politicians from office. With over 52 million Americans owning digital assets, he highlighted the importance of the crypto community as a significant and diverse portion of the electorate, spanning various demographics and political affiliations.
Coinbase has been supporting the grassroots movement StandWithCrypto.org, which has garnered over 900,000 advocates nationwide, particularly in crucial battleground states. The organization aims to mobilize over 1 million advocates by Labor Day, providing resources such as candidate scorecards, tools for contacting representatives, donation options, and voter registration assistance.
Armstrong identified upcoming political races for the House, Senate, and the Presidency as pivotal for the future of crypto legislation. He urged crypto holders to participate in the elections and support pro-crypto candidates to ensure clear rules that protect consumers and foster innovation within the United States.
As Armstrong concluded, he underscored the necessity for updated financial infrastructure and economic freedom within the evolving crypto landscape.
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