The ‘Stand With Crypto’ Initiative Gains Over 100,000 Supporters
The ‘Stand With Crypto’ initiative, backed by Coinbase, has quickly garnered the support of over 100,000 individuals aiming to amplify the voices of crypto advocates in policy discussions across the United States. In the past few weeks, more than 100,000 people have joined ‘Stand With Crypto‘, an initiative supported by Coinbase, to advocate for cryptocurrency in the United States. The nonprofit’s website allows users to get in touch with policymakers and help understand their individual views on crypto.
Currently, 80,000 individuals have donated more than $2 million to support the cause, with half of the donation coming from Coinbase CEO Brian Armstrong.
The State of U.S. Crypto Policy
U.S. crypto policy is currently undergoing significant changes. While the House of Representatives has been pushing for several bills on crypto regulation to pass, the Senate has been less enthusiastic about taking action. However, areas such as stablecoin regulation and measures against money laundering are more likely to see progress.
It is important to stay vigilant for any last-minute additions to budget bills in Congress, particularly those related to defense spending, as crypto legislation may be included at the eleventh hour.
A House bill on stablecoin regulation has bipartisan support and recent news linking crypto donations to Hamas may lead to a push for stronger anti-money laundering protections within the crypto industry.
Hot Take: Pushing for Crypto Advocacy and Regulation
The ‘Stand With Crypto’ initiative spearheaded by Coinbase has gained significant momentum with over 100,000 supporters joining its cause. This surge in numbers showcases a growing interest in advocating for cryptocurrency within U.S. policy discussions. By enabling users to engage with policymakers and understand their stance on crypto, the initiative aims to amplify the voices of crypto advocates.
As the U.S. crypto policy landscape remains uncertain, attention should be given to ongoing developments. While the House of Representatives advances bills on crypto regulation, the Senate’s response has been more restrained. However, progress is likely in areas such as stablecoin regulation and combating money laundering within the crypto industry.
It is crucial to remain vigilant for any unexpected inclusions of crypto legislation in budget bills, especially those related to defense spending. With bipartisan support for stablecoin regulation and recent concerns over crypto donations linked to Hamas, the need for stronger anti-money laundering measures may come into focus.
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