The use of cryptos has surged in the US. A recent study by Consensys shows that the US is one of the most crypto-aware and active nations.
Other studies have shown that one out of six US citizens is either involved with or has been involved with cryptocurrencies. If you live in the US, there is a way you can help and get authorities to work on crypto-friendly laws with Coinbase. Let’s discover how.
How to Make Your Senator Vote for Crypto-friendly Laws
While this growth is applaudable, the lack of clear policies has been a challenge. In addition, US authorities are cooking up policies that many consider anti-crypto. And if little is done, the crypto industry could suffer a massive decline in the US.
Several crypto experts and organizations have been working towards advocating for crypto-friendly policies. For example, Coinbase and its CEO, Brian Armstrong, have been active in supporting positive policies for the industry.
52M Americans own crypto. They’re younger & more diverse than the US population in total. But their voices aren’t being heard by Congress.
That’s about to change.
Here’s what we’re doing—and what you can do to help mobilize 1M people to #StandWithCrypto: https://t.co/stmH0WVUhO
— Coinbase 🛡️📞 (@coinbase) September 19, 2023
Coinbase is currently in a legal battle with the US Securities and Exchange Commission (SEC). The crypto exchange recently shared a blog post that showed how the average American can take part in formulating positive laws for crypto.
Coinbase Launches a Grassroots Campaign
Coinbase is scaling up its grassroots advocacy campaign in an effort to promote laws that will give the sector regulatory clarity. Exchange, on Tuesday, September 19th, launched an extensive sponsored media campaign, including calls to action on its exchange and ads in Washington, DC, pushing cryptocurrency users to contact their representatives in Congress and request that they approve laws regulating the industry.
Source: Coinbase
Coinbase noted that the “campaign will encourage crypto owners and supporters to take one minute of their day to call their member of Congress and ask them to pass clear, sensible legislation.”
Coinbase believes that there are 52 million crypto owners in the US and that if a large number of these owners turn up for its campaign, the industry will benefit from the regulatory clarity. The exchange, in its post, noted that most American crypto owners are calling for clearer rules.
This is one of the paragraphs in the blog:
“Earlier this year, Coinbase undertook research to understand the attitudes of Americans toward the financial system. It found that people overwhelmingly want change. Nearly nine in ten (87%) Americans believe the financial system needs changing, and half (51%) of Americans believe that America’s financial system does not work fairly for everyone. Most perceive the system as benefiting anyone but people like themselves, and only 14% are optimistic about the future of the financial system.”
Furthermore, Coinbase said it will host a “fly-in” on September 27, where it will invite executives and developers from roughly 35 crypto startups to Capitol Hill. The idea is to meet with workers and legislators.
Coinbase to Push for Crypto Rules in Four US States
Last month, Coinbase launched the non-profit organization Stand With Crypto to push pro-crypto policy. The cryptocurrency exchange claims that it would concentrate its “Stand with Crypto” campaign on four “swing states”. Where people were found to be less likely to support anti-crypto presidential candidates. It listed Ohio, Pennsylvania, New Hampshire, and Nevada as the four swing states. Other states of interest to the campaign include Arizona, California, Georgia, Illinois, and Wisconsin.
Source: Coinbase
In conclusion, joining the Coinbase advocacy campaign is one way to take part in making better laws for crypto in the US.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
