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Coinbase has launched the "Stand with Crypto" campaign, an initiative that aims to advocate for favourable regulations surrounding cryptocurrencies in the United States.
Existing financial system biassed
The motivation behind this move stems from a prevalent sentiment among Americans that the existing financial system is biassed towards the powerful, leaving everyday citizens marginalised. Shockingly, 51% of Americans perceive this system as unfair, and only 14% retain confidence in its future.
The campaign has a comprehensive strategy that prioritises nine key states, such as New Hampshire, Nevada, Ohio, Pennsylvania, Arizona, California, Georgia, Illinois, and Wisconsin. These states hold particular significance because they include "swing states," where voters are less likely to support candidates who are against cryptocurrency.
A call to action
The campaign's approach is rooted in data and supported by a recent poll conducted in 2022. The poll revealed that a considerable portion of voters in these targeted states would hesitate to back candidates who oppose the crypto and Web3 movement.
Coinbase's "Stand with Crypto" campaign goes beyond raising awareness; it serves as a call to action. As part of the campaign, Coinbase will host events like "Stand with Crypto Day" in Washington D.C. on September 27th to highlight the significance of crypto innovation and policy. Additionally, Coinbase is encouraging crypto enthusiasts to actively engage with their congressional representatives in order to advocate for transparent and favourable regulations surrounding cryptocurrencies.
Sensible crypto legislation
The regulatory environment for cryptocurrencies in the U.S. is currently uncertain and complex, creating difficulties for crypto businesses and exchanges. This lack of clear regulations has led to legal complications even for well-established entities in the crypto industry. Other countries have already implemented clear and defined regulatory frameworks for cryptocurrencies, placing the U.S. at risk of falling behind and potentially missing out on the numerous opportunities presented by this industry.
Coinbase is advocating for clear and sensible legislation in the world of cryptocurrency. They argue that the current enforcement-focused approach poses risks to jobs, innovation, and America's global leadership. With their "Stand with Crypto" campaign, Coinbase seeks to change the narrative by highlighting how transparent regulations can benefit both the U.S. financial system and the entire nation.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.