Coinbase Launches Stand with Crypto Alliance to Advocate for Clear Regulation
Coinbase, the prominent US-based cryptocurrency exchange, has announced the launch of the Stand with Crypto Alliance. This advocacy organization aims to mobilize the crypto community to actively participate in legislative processes and drive clear and sensible regulation for cryptocurrencies in America.
Key Points:
1. Coinbase-backed Advocacy Organization: The Stand with Crypto Alliance recognizes the growing influence and size of the crypto community, which extends beyond Coinbase alone. The Alliance aims to organize the community into a “powerful voice” advocating for policies that modernize the financial system and promote economic empowerment.
2. Urging Congress for “Common-sense” Legislation: The primary goal of the Alliance is to urge Congress to take decisive action and enact legislation that protects consumers and their right to engage with cryptocurrencies. It seeks to hold lawmakers accountable during the upcoming fall session when important crypto-related votes are expected.
3. Risks to Crypto in America: The delay in establishing clear regulatory frameworks for cryptocurrencies has allowed “unelected” regulators to operate without proper oversight, potentially undermining the nation’s economic security and impeding its leadership in innovation. The consequences include job losses and inadequate protection for American consumers.
4. Rising Appeal of Crypto in the US: Recent data from Coinbase shows that 87% of Americans believe the financial system requires changes or a complete overhaul. Black and Hispanic adults exhibit greater optimism regarding the future of cryptocurrencies, while crypto ownership is evenly split across party lines in critical states.
5. Enthusiasm and Support: The Stand with Crypto Alliance launch builds upon previous Coinbase-supported advocacy initiatives, demonstrating the enthusiasm among Americans to leverage crypto and blockchain technology. Individuals can support the future of crypto by joining the movement and supporting efforts to drive clear and sensible regulation.
Hot Take:
The launch of the Stand with Crypto Alliance by Coinbase represents a significant step towards organizing the crypto community as a core constituency in the legislative process. By advocating for clear regulation, the Alliance aims to secure the future of cryptocurrencies in America and ensure economic empowerment for all.
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