Coinbase campaign for sensible crypto policies hits coffee cans to 'wake up' regulators

The Coinbase “Stand with Crypto” run has reached java cans arsenic the speech and manufacture stakeholders marched to Washington D.C. to person the country’s lawmakers to supply regulatory certainty to crypto. 

Coinbase handing retired acold brew connected Cap Hill pic.twitter.com/4vXWXB7zRJ

On Sept. 27, Coinbase CEO Brian Armstrong and crypto entrepreneurs based successful the United States went to Washington D.C. to persuade lawmakers to enactment a caller acceptable of rules for integer currencies. 

These rules were approved by the Republican-led House Financial Services Committee and House Committee connected Agriculture earlier this summer. If the rules are implemented, it volition marque it easier for crypto companies to travel regulations without facing excessively galore obstacles.

According to Armstrong, Coinbase went to the country’s superior with 40 crypto founders from each implicit the U.S. The Coinbase CEO believes it’s clip for the state to join the remainder of the G20 and enactment successful spot a acceptable of wide rules for the industry.

Despite the attempt, immoderate reports suggest that Coinbase is facing an “uphill battle." Observers pass the instrumentality could person little attraction due to the fact that of the fund quality astatine the national level, and accrued Senate efforts to ace down connected crypto wealth laundering.

Related: Coinbase holds 5% of each Bitcoin successful existence: Data

Community members responded to the run with antithetic reactions, with immoderate supporting Coinbase’s efforts and others theorizing wherefore politicians whitethorn beryllium against blockchain.

On X (formerly Twitter), a assemblage subordinate thanked Coinbase and said that this is simply a “step towards making a quality with policy.” Meanwhile, a Redditor noted that politicians whitethorn steer payer dollars for their ain purposes. According to the Reddit user, this whitethorn beryllium the crushed wherefore politicians don't similar crypto arsenic it's connected a "visible-to-anyone" blockchain.

The Coinbase Stand with Crypto run follows the United States Securities and Exchange Commission’s (SEC) ineligible actions against the crypto exchange. On June 6, the SEC sued Coinbase for allegedly breaking securities laws by offering unregistered securities connected its crypto trading platform.

Before reaching java cans, the speech besides released nonfungible tokens (NFTs) to stitchery enactment from crypto assemblage members successful its combat for favorable crypto policies. However, assemblage members were split, with immoderate offering enactment by minting the NFTs and others feeling unsure if it would person an impact.

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