In a recent blog post titled “How to get regulatory clarity for crypto,” Coinbase CEO Brian Armstrong urged for a concerted effort to secure regulatory clarity for the crypto industry. He emphasized the importance of supporting pro-crypto political candidates and voting out anti-crypto incumbents as a crucial step in achieving regulatory clarity. Armstrong highlighted the significant investment Coinbase has made in policy efforts and reiterated the company’s commitment to continue these investments as crypto regulations evolve globally.
Armstrong outlined two primary paths to achieving regulatory clarity: creating new case law through the courts and passing new legislation through Congress. He acknowledged the challenges posed by the current political climate, stating that in a divided government, the default is that nothing will happen unless the cost of inaction is greater than doing the right thing. To navigate 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 a significant and diverse portion of the electorate. He highlighted that crypto owners are younger, more racially diverse, and cut across political lines. Armstrong stressed that crypto is a truly bipartisan issue, with important supporters on both sides. StandWithCrypto.org, a grassroots movement supported by Coinbase, has amassed over 900,000 advocates nationwide, particularly in battleground states like Georgia and Arizona.
StandWithCrypto.org provides resources such as candidate scorecards, tools to contact representatives, donation options, and voter registration assistance. Coinbase plans to support StandWithCrypto.org in mobilizing over 1 million advocates by Labor Day. Armstrong identified key political races for the House, Senate, and the Presidency as crucial for the future of crypto legislation. He urged crypto holders to participate in the upcoming elections and support pro-crypto candidates, emphasizing the need for clear rules that protect consumers and allow innovation to happen in America.
Brian Armstrong highlighted the importance of advocating for regulatory clarity in the crypto industry. He emphasized the need for updated financial infrastructure and economic freedom, urging the crypto community to actively engage in the political process by supporting pro-crypto candidates and mobilizing advocates through movements like StandWithCrypto.org. By coming together and supporting initiatives that promote regulatory clarity, the crypto industry can pave the way for innovation and growth in the digital asset space.