Top US crypto exchange Coinbase is launching a 14-month lobbying effort to convince D.C. lawmakers to pass clearer regulations for digital assets.
According to a new blog post, Coinbase’s “Stand With Crypto” initiative includes several strategies, such as calling on the tens of millions of Americans who own digital assets to contact their representatives and advocate for pro-crypto laws.
“We’re asking more than 52 million crypto owners and advocates to use their voices to stand with crypto. The Stand with Crypto Alliance is doing this through a 14-month-long campaign that will have three elements:
1. Leveraging the Coinbase platform to mobilize crypto owners into single-issue crypto advocates. Since Stand with Crypto was formed just a few weeks ago, more than 100,000 people have already taken action via Stand with Crypto’s decentralized app (which can be accessed through the Coinbase app).
2. A comprehensive paid media campaign across all platforms, including the launch today of digital and outdoor advertisements in Washington, D.C. to showcase what will be distributed nationally.
3. The campaign will have a specific focus on nine key states that also over-index when it comes to the number of crypto owners, including on-the-ground organizing with full-time field organizers, in key states. Over the last several weeks, Stand with Crypto has hosted successful events in Ohio, Nevada, Georgia and Montana, that have road-tested the capacity to organize crypto advocates.
The overall mobilization effort of the 52 million Americans who own crypto will include an intense focus on the following states: AZ, CA, GA, IL, NH, NV, OH, PA, and WI. While we will share more on the individual states, in Georgia we will seek to build a club of crypto of at least 11,779 members.”
In June, the U.S. Securities and Exchange Commission (SEC) sued Coinbase for allegedly “operating as an unregistered securities exchange, broker, and clearing agency.” The case is ongoing.
Coinbase said in a recent blog post that the SEC is taking an enforcement-only approach to the crypto space and that is “costing the US millions of jobs and pushing opportunity offshore.”
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