Brian Armstrong Calls for Stronger Crypto Lobbying Ahead of 2024 Election
The CEO of Coinbase, Brian Armstrong, believes that the crypto industry in the US is facing an unfair regulatory environment. In an interview with Ryan Selkis, the founder of Messari, Armstrong expressed his concerns about certain members of the government who are making it difficult for the industry to thrive.
Armstrong specifically mentioned SEC Chair Gary Gensler and Senator Elizabeth Warren as the two actors responsible for trying to curtail and kill the industry. However, he noted that their views do not represent the rest of the US government that he interacts with, as many members of Congress recognize the innovation potential of the crypto industry and want to protect consumers with reasonable regulation.
Stronger Lobbying Efforts Needed
Armstrong emphasized the need for stronger lobbying efforts from the crypto industry before the 2024 elections to bring about meaningful change in the regulatory environment. He urged the industry to become more sophisticated and powerful in its lobbying efforts to prevent the SEC from being weaponized for political agendas.
Earlier this month, Coinbase launched a campaign called “Stand With Crypto,” encouraging digital asset owners to contact their representatives and advocate for pro-crypto laws.
Hot Take: Strengthening Crypto Lobbying for Better Regulations
Brian Armstrong, CEO of Coinbase, has highlighted the unfair regulatory environment faced by crypto firms in the US. He identified SEC Chair Gary Gensler and Senator Elizabeth Warren as two key figures responsible for curbing the growth of the industry. However, Armstrong believes that their views do not represent those of other members of government who recognize the potential for innovation in crypto and aim to protect consumers through reasonable regulations.
To combat these challenges, Armstrong calls on the crypto industry to ramp up its lobbying efforts ahead of the 2024 elections. He emphasizes the need for greater sophistication and power in these efforts to prevent the SEC from being used for political agendas. Coinbase has already launched a campaign called “Stand With Crypto” to encourage digital asset owners to engage with their representatives and advocate for crypto-friendly laws.
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