Coinbase introduces Stand with Crypto Alliance advocacy organization
Coinbase introduces Stand with Crypto Alliance advocacy organization
Cryptocurrency exchange Coinbase announced the launch of the Stand with Crypto Alliance advocacy group to improve crypto legislation.
The primary goal of the Stand with Crypto Alliance is to encourage the crypto community to actively participate in the U.S. legislative process to shape the cryptocurrency landscape for future generations.
"Stand With Crypto Alliance will use the underlying technology of the blockchain to help organize the community into a powerful voice advocating for policies that will update our financial system and support economic empowerment," Coinbase said in a statement.
The Stand with Crypto Alliance is the first organization that will represent the voice of all crypto industry participants online. The Alliance will harness the full power of the decentralized crypto community to force U.S. lawmakers to act in the best interests of the country's citizens.
"America’s crypto constituency is strong, and we will hold them accountable this fall when Congress votes on common-sense legislation to protect consumers and their right to crypto," the company noted.
According to Coinbase, one in four Americans owns a cryptocurrency, 87% of the country's citizens believe the financial system needs to be changed or completely overhauled, and 70% of young crypto investors claim that digital assets and blockchain technology offer greater economic opportunities for U.S. residents compared to traditional finance.
Coinbase made the decision to launch the alliance due to the complex, unclear, and weak regulatory framework for the crypto industry in the U.S.
Recall that Binance steps up efforts to fight a broader SEC probe.
