Coinbase, the leading US cryptocurrency exchange, 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 asking tens of millions of Americans who own digital assets to contact their representatives and advocate for pro-cryptocurrency laws.
“We are asking more than 52 million cryptocurrency owners and advocates to use their voices to defend cryptocurrencies. Stand with Crypto Alliance is doing this through a 14-month campaign that will have three elements:
- Leverage the Coinbase platform to mobilize cryptocurrency owners and turn them into cryptocurrency advocates with a single issue. Since Stand with Crypto was formed just a few weeks ago, over 100,000 people have already taken action through the decentralized app Stand with Crypto (accessible through the Coinbase app).
- A comprehensive paid media campaign across all platforms, including launching digital ads and billboards in Washington, D.C. today. to show what will be distributed nationwide.
- The campaign will specifically focus on nine key states that are also overindexed with respect to the number of cryptocurrency owners, including local organizing with full-time field organizers, in key states. In recent weeks, Stand with Crypto has hosted successful events in Ohio, Nevada, Georgia, and Montana that tested its ability to organize cryptocurrency advocates.
The overall effort to mobilize the 52 million Americans who own cryptocurrency will include an intense focus on the following states: AZ, CA, GA, IL, NH, NV, OH, PA, and WI. While we will share more about each state, in Georgia we will look to build a crypto club of at least 11,779 members.”
In June, the US Securities and Exchange Commission (SEC) sued Coinbase for allegedly “operating as an unregistered securities exchange, broker-dealer, 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 this is “costing the US millions of jobs and creating opportunities overseas.”