Crypto Voting Blocks Could Have Significant Influence in 2024 US Elections, says Coinbase CEO
Coinbase CEO, Brian Armstrong, has emphasized the power of crypto voting blocks in the upcoming 2024 United States elections. According to Armstrong, many politicians fail to realize the significance of this voting demographic.
In an interview with Yahoo Finance at the Goldman Sachs community and tech conference, Armstrong stated that the 2024 elections will witness American voters demanding to know the candidates’ position on cryptocurrencies.
Armstrong also highlighted the need for proper regulations in the crypto sector. He mentioned that countries like the UK, Canada, Brazil, Australia, and the UAE have already implemented or are in the process of implementing crypto legislation. He believes that this topic could become a hot topic in the 2024 presidential race.
Regulating Cryptocurrencies in the US
Armstrong outlined three potential avenues for regulating cryptocurrencies in the United States: through the courts, Congress, and the CFTC. He emphasized that crypto regulations are already prevalent in many countries.
Furthermore, Armstrong noted that approximately 56 million Americans have used cryptocurrencies, making them a significant voting demographic. He mentioned that certain US politicians, including current presidential candidates, have expressed positive sentiments about cryptocurrencies.
Coinbase’s Next Focus: Flatcoins
Armstrong discussed Coinbase’s future plans, highlighting the company’s investment in its derivatives platform. He also mentioned “flatcoins” as the next iteration of stablecoins that Coinbase is interested in exploring.
Flatcoins aim to peg stablecoins to maintain purchasing power over an extended period. Although Coinbase is not actively developing in this area yet, Armstrong confirmed that teams within the company are already working on it.
Hot Take: Crypto Voting Blocks Could Shape the Future of US Politics
The power of crypto voting blocks should not be underestimated, as highlighted by Coinbase CEO Brian Armstrong. With millions of Americans already using cryptocurrencies, their influence in elections, especially in 2024, could be significant. Armstrong believes that voters will demand to know politicians’ stances on cryptocurrencies, turning it into a hot topic during the presidential race.
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