Regulation
Coinbase CEO Calls on Crypto Community to Vote for Anti-Crypto Politicians
Coinbase CEO Brian Armstrong called for a concerted effort to ensure regulatory clarity for the cryptocurrency sector by supporting it pro-cryptocurrency political candidates and vote out Anti-cryptocurrency incumbents.
Armstrong made the statement in a June 3 blog post titled “How to achieve regulatory clarity for cryptocurrencies.”
Coinbase’s CEO highlighted the substantial investment Coinbase has made in policy efforts and reiterated the company’s commitment to continuing these investments over the next decade as crypto regulations evolve globally.
He said:
“We are deeply committed to political efforts to defend the rights of our customers and promote economic freedom.”
Divided government
Armstrong outlined two main paths to achieving regulatory clarity: creating new jurisprudence through the courts and passing new legislation through Congress. However, he acknowledged the difficulties posed by the current political climate.
He said:
“In our divided government, the default is that nothing will happen unless the cost of inaction is greater than doing the right thing.”
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 that the crypto community is significant and heterogeneous portion of the electorate. He added that cryptocurrency owners are “younger, more racially diverse and cross political lines.”
Armstrong said:
“Cryptocurrencies are a truly bipartisan issue, with important supporters on both sides.”
Elections are crucial
StandWithCrypto.org, a grassroots movement supported by Coinbase, has garnered more than 900,000 supporters nationwide, particularly in battleground states like Georgia and Arizona. These supporters have actively reached out to their representatives in Congress, influencing key legislative votes such as SAB121 and FIT21.
Coinbase plans to support StandWithCrypto.org in mobilizing more than 1 million supporters by Labor Day. The organization provides resources such as candidate scorecards, tools for contacting representatives, donation options, and voter registration assistance.
Armstrong identified key political races, including those for the House, Senate and Presidency, as crucial to the future of cryptocurrency legislation. He urged cryptocurrency holders to participate in the next elections and support pro-cryptocurrency candidates.
“52 million Americans have owned cryptocurrencies. They want clear rules that protect consumers and enable innovation here in America.”
Armstrong concluded by emphasizing the need for updated financial infrastructure and economic freedom.