Implications of U.S. Elections
Today, Coinbase emphasized the significant impact of the upcoming U.S. elections on the future of cryptocurrency. The company pointed out the importance of electing pro-crypto candidates and enacting supportive policies.
Election Impact on Cryptocurrency
Coinbase highlighted that the current U.S. approach to cryptocurrency regulation, which it describes as “regulation by enforcement,” lacks clarity and hinders the sector’s growth. This approach, according to Coinbase, disadvantages everyday Americans and drives innovation and economic activity offshore.
Efforts to Raise Support
Highlighting the power of grassroots support in the crypto community, Coinbase noted that the Fairshake Super PAC and its affiliates have raised over $78 million from various companies and industry leaders. This funding aims to support bipartisan, crypto-forward candidates in the 2024 elections, representing the interests of the 52 million Americans who own digital assets.
Industry Contributions
Coinbase lists several crypto companies and individuals who have contributed to the Fairshake Super PAC. This includes notable names like Andreessen Horowitz, Ark, Brian Armstrong, Blockchain Capital, Circle, Coinbase itself, and others, all committed to responsible growth in the crypto sector.
Support for the ‘Stand with Crypto’ Movement
Coinbase supports the ‘Stand with Crypto’ grassroots movement, which aims to sign up 1 million members before the 2024 elections. The movement has already seen significant participation, with over 215,000 advocates joining within four months of its launch.
Encouraging Civic Engagement
Coinbase encourages the crypto community to actively participate in the political process. This includes attending town hall meetings, contacting representatives, voting wisely, and donating to organizations that advocate for crypto-friendly policies. The company emphasizes the power of personal stories and experiences in influencing lawmakers.
Hot Take: The Future of Cryptocurrency
Kara Calvert, Head of US Policy at Coinbase, recently joined “Bloomberg Technology” hosts Ed Ludlow and Sonali Basak to discuss the current state of cryptocurrency regulation in the United States. The conversation focused on the challenges and prospects facing the crypto industry and the efforts to educate lawmakers about the benefits and importance of cryptocurrency.
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