Coinbase Launches Nationwide Pro Crypto Policy Campaign

America’s largest cryptocurrency exchange is pulling out all the stops to make sure US policymakers get it right in how they treat the crypto industry.

The company announced Crypto435 – a grassroots initiative to extend cryptocurrency advocacy to citizens in all 435 Congressional Districts.

Coinbase’s advocacy mission

As he tweeted by Coinbase on Tuesday, the initiative presents an opportunity for crypto and web 3 enthusiasts to make their views known in DC. Coinbase will provide the community with various tips about local politicians and the crypto landscape – including their contact information, their crypto policy records, and how best to make sure those with a voice can be heard.

“The crypto community has reached an important moment,” said Coinbase. “Decisions made by lawmakers and regulators in DC and across the country will affect the future of how we can build, buy, sell and use crypto.”

Congressional and regulatory interest in crypto – and more specifically, skepticism about it – has grown since the catastrophic collapse of FTX in November. The political debate surrounding cryptocurrency regulation has taken a negative turn in Washington, amid calls from experts restrict the industry from the banking system and the Senate Banking Committee moving definitive ban get him.

The exchange claims that Crypto435 will “influence laws and policies” and also “educate everyday Americans about the power of crypto.”

Coinbase VS SEC

Pressure from federal regulators — especially the Securities and Exchange Commission (SEC) — is also intensifying. Only in February, the agency imposed a fine Kraken for its staking-as-a-service product, issued a Wells v Paxos for the BUSD edition, and began research on Robin Hood over its cryptocurrency listings.

Some of the industry’s advocates in Washington have criticized the SEC for regulating “by enforcement” rather than providing the necessary clarity for crypto companies to follow the law – including the agency itself Hester Peirce. Coinbase CEO Brian Armstrong supported her claims while opposing many of the SEC’s claims that some encryption products, incl betting services and brands, are securities.

Confusion over such matters has prompted the industry to turn to Congress, which has yet to pass new laws that clear the air about how to classify cryptocurrencies or determine which agencies should oversee them.

“We need careful policymaking and smart regulation so we can continue to advance crypto and the web3 and make progress in our mission to increase financial freedom,” Coinbase wrote.

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