Coinbase To Support Pro-Crypto Candidates In US Politics
In a bold move to support the digital asset industry, Coinbase CEO, Brian Armstrong, has announced the exchange’s intention to donate to pro-crypto candidates in US elections. This announcement came just a day after the company received a Wells Notice from the US Securities and Exchange Commission (SEC).
JUST IN: 🇺🇸 Coinbase to start donating to pro-crypto candidates in US elections.
— Watcher.Guru (@WatcherGuru) March 24, 2023
Pro-Crypto Political Action
Armstrong encouraged crypto users to use their voices in the political realm and support candidates who could positively impact the industry. He stated that the exchange would be working to organize crypto users to show up at town halls, contact their congressmen and donate to pro-crypto candidates. The aim is to ensure that the success of the industry is ensured through political action.
The announcement comes at a time when the SEC has ramped up its enforcement action against crypto companies. Coinbase is one of the largest US exchanges, and its decision to take a stand for the industry in the political sphere is a significant step forward.
Armstrong’s announcement was made during a recent Twitter Space event. He emphasized the importance of electing pro-crypto candidates in the US to protect the digital asset industry. The move is seen as a way to counterbalance the regulatory challenges that crypto companies are currently facing.
Pro-Crypto Donations
Coinbase has been in the SEC’s crosshairs for a while now, with the recent Wells Notice indicating potential enforcement action against the exchange. The decision to donate to pro-crypto candidates in US elections may be seen as a proactive move to avoid any further regulatory issues.
The issues between the digital asset industry and regulation have been a constant discourse since its inception. While some countries have embraced cryptocurrencies and blockchain technology, others remain skeptical. The move by Coinbase to donate to pro-crypto candidates in US elections may be a step towards bridging the gap between the industry and regulation.
The announcement has been met with mixed reactions, with some applauding Coinbase for taking a proactive step towards supporting the digital asset industry. Others, however, have criticized the move, stating that it may lead to a conflict of interest for the exchange.
