Coinbase launches grassroots campaign to influence US lawmakers and regulators

Quick Take

  • Coinbase posts online petition as it looks to mobilize an army of American crypto advocates.
  • The cryptocurrency exchange wants to educate people on how they can reach out to local lawmakers.

Coinbase is taking the crypto gospel on the road with plans to make inroads all across the United States.

On Twitter, the crypto exchange operator announced an initiative aimed at advancing “pro-crypto policy in all 435 Congressional Districts across the U.S.,” while also posting a link to an online petition. The cryptocurrency exchange is eager to influence both the legislators and regulators who will likely determine how people and companies are able to buy, sell and trade digital assets.

“We need thoughtful policymaking and smart regulation so that we can continue to advance crypto and web3, and make progress on our mission to increase economic freedom,” Coinbase said in a Twitter post.

Coinbase’s effort to harness the power of people interested in a future where digital assets play an integral part in society comes at a potential crossroads for the crypto industry. Amid a series of bankruptcies and fraudulent behavior, lawmakers and regulatory bodies like the U.S. Securities and Exchange Commission have intensified their scrutiny of digital assets.

Reaching out to politicians and potentially influencing how they vote on future legislation appears to be at the heart of the exchange’s campaign. “Coinbase will empower the #Crypto435 community with information about how to contact specific politicians in their local districts,” the company also posted to Twitter

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About Author

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.

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