The CEO of Coinbase, Brian Armstrong, has recently called for a united effort to secure clear regulations for the crypto industry. In a blog post titled “How to get regulatory clarity for crypto,” Armstrong emphasized the company’s commitment to investing in policy efforts over the next decade as regulations evolve globally. He highlighted the challenges posed by the current political climate but stressed the importance of taking action to ensure regulatory clarity for the industry.
Armstrong outlined two main paths to achieving regulatory clarity: creating new case law through the courts and passing legislation through Congress. He acknowledged the difficulties posed by the division within the government, stating that inaction is often the default unless the cost of doing nothing outweighs the cost of taking action. To address these challenges, Armstrong called for a bipartisan effort to elect pro-crypto candidates and remove anti-crypto politicians from office.
With 52 million Americans owning digital assets, Armstrong emphasized the significant and diverse nature of the crypto community as a portion of the electorate. He highlighted the importance of engaging in political races at all levels, including House, Senate, and Presidential elections. Armstrong urged crypto holders to participate in upcoming elections and support candidates who prioritize regulatory clarity for the industry. He emphasized the need for clear rules to protect consumers and foster innovation within the crypto space.
Coinbase-supported grassroots movement StandWithCrypto.org has garnered over 900,000 advocates nationwide, particularly in battleground states like Georgia and Arizona. These advocates have actively engaged with congressional representatives, influencing key legislative votes. The organization provides resources such as candidate scorecards, tools for contacting representatives, donation options, and voter registration assistance. Coinbase plans to mobilize over 1 million advocates by Labor Day to further support the movement’s efforts to drive regulatory clarity for the crypto industry.
The call for regulatory clarity within the crypto industry is crucial for future growth and innovation. The efforts led by Coinbase CEO Brian Armstrong and the StandWithCrypto.org movement highlight the importance of engaging in political processes to support pro-crypto candidates and push for legislation that fosters economic freedom. With the support of the crypto community, regulatory clarity can be achieved, paving the way for a more secure and innovative future for the industry.
Leave a Reply