Coinbase chief executive Brian Armstrong thinks crypto regulation is a matter of national security for the United States.
Armstrong says it’s critical for the US to pass crypto regulations that foster domestic innovation.
“The US missed on semiconductors and 5G which is now largely manufactured offshore. It can’t afford to have cryptocurrency go offshore as well (same for every country btw).
Regulation by enforcement has a terrible chilling effect, and rhetoric matters — we’ve already seen a huge amount of crypto talent, asset issuers, and startups go offshore.
Coinbase is a global company, but we’re based right here in the USA and will fight to make sure crypto succeeds here for everyone. It’s too important to America and the free world.”
Coinbase has recently taken a more aggressive approach in terms of informing its users how American politicians stand on crypto-related issues.
The digital assets exchange recently integrated a crypto education initiative into its app that enables customers to see which national lawmakers are crypto-friendly based on public statements they’ve made. It also allows them to register to vote and learn about local town hall events.
Armstrong says Coinbase plans to take an active part in the electoral process.
“Over time, we want to help pro-crypto candidates solicit donations from the crypto community (in crypto). We’ll also expand to get more geographic coverage in global elections, and add data on various candidates running for office (not just current elected officials).”
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