Connect with us

Hi, what are you looking for?

Crypto

Coinbase kicks off grassroots campaign to advance US legislation

Coinbase logo displayed on a phone screen and representation of Bitcoin are seen in this illustration photo taken in Krakow, Poland on April 15, 2021 (Photo by Jakub Porzycki/NurPhoto via Getty Images)

The firm said that the largest U.S. cryptocurrency exchange, Coinbase (COIN.O), is scaling up its grassroots advocacy campaign to advance legislation that will give the sector regulatory certainty.

A cryptocurrency measure that would specify whether a cryptocurrency is a security or a commodity was advanced by a legislative committee in July. The business community wants the U.S. House of Representatives to vote on the bill.
On Tuesday, Coinbase will begin a broad paid media campaign, including calls to action on its platform and ads in Washington, DC, pushing cryptocurrency users to contact their representatives of Congress and request that they approve laws regulating the industry.

On September 27, Coinbase will host a “fly-in” inviting executives and developers from roughly 35 crypto startups to Capitol Hill to meet with staff and politicians.

According to Kara Calvert, head of U.S. policy at Coinbase, “Crypto is just so much bigger than Coinbase, and that I think is what’s going to be really powerful about the fly-in.”

According to Coinbase, 52 million Americans currently possess cryptocurrency.

The initiative demonstrates the industry’s ferocious lobbying efforts in Washington, where it sees a chance to promote legislation that would aid in restraint of the U.S. Securities and Exchange Commission, which has been harshly policing the sector.

Despite Coinbase’s denials, the regulator is suing the company for allegedly trading unregistered securities.
By far the most of any cryptocurrency company, according to OpenSecrets, Coinbase spent $3.39 million on lobbying in the 2022 election season, leading industry advocacy efforts.

Last month, Coinbase established the non-profit organization Stand With Crypto to push pro-crypto policy. Recent events organized by that group in Ohio, Nevada, Georgia, and Montana “tested the capacity to organize crypto advocates,” according to a blog post by Coinbase.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The future of technological innovation is here. Be the first to discover the latest advancements, insights, and reviews. Join us in shaping the future.
SUBSCRIBE

You May Also Like

Innovation

Overview Changing the decor in your property shouldn’t be a hard or high-priced challenge. Simple do-it-yourself initiatives can revitalize your residing place with a...

Electronics

Presenting the Samsung 65” Class OLED S95C TV—the height of current fashion and stunning visual readability. With a mean rating of 4.1 stars based...

News

More than 40 measure are included in Ofcom’s plan to protect youngsters from content that offers with eating problems, self-damage, suicide, and pornography. Concerns...

Cars

Tesla’s $500 Million Investment in Expanding Supercharger Network Elon Musk, the CEO of Tesla (TSLA.O), these days declared that the employer can be making...

SUBSCRIBE

The future of technological innovation is here. Be the first to discover the latest advancements, insights, and reviews. Join us in shaping the future.