Cryptocurrency: Coinbase App Lobbies Politicians, Crypto Firms Sue... No Regulators!

grarpamp grarpamp at
Fri Sep 16 10:26:25 PDT 2022

Crypto world finally decides to start throwing its weight around... No Regulators !!!

Coinbase Now Lets Users Check Which Politicians Are Crypto-Friendly

With midterm elections just around the corner, Coinbase is rolling out an in-app
tool to help users see which candidate is pro-crypto.

Coinbase users will be able to see which U.S. politicians are
“crypto-friendly” with a new in-app tool, CEO Brian Armstrong
announced yesterday on Twitter, as crypto companies ramp up their lobbying
efforts ahead of the midterms in November.

The tool shows how different members of Congress measure up on their
“crypto sentiment,” which can range from “very positive” to
“very negative.”

The assessments are based in part on data from the Crypto Action Network,
which scores members of Congress on publicly available data like media
statements, legislative records, and their willingness to accept crypto

1/ Starting today, Coinbase will begin integrating our crypto policy
efforts right into our app. These will help our 103M verified users get
educated on the crypto positions held by political leaders where they

— Brian Armstrong (@brian_armstrong) September 14, 2022

The Crypto Action Network is a 501(c)(4) organization dedicated to
promoting the growth and security of cryptocurrency.

“Crypto advocacy is very important for our mission of increasing
economic freedom in the world,” Armstrong wrote. “But the crypto
community is much bigger than Coinbase - hopefully, we can all rally to
engage elected leaders and drive sensible policies.”

Crypto ups its lobbying efforts

With the midterms coming up in November, crypto firms, including Coinbase
and FTX, have recently increased their political efforts, including hiring
lobbyists and ex-regulators to influence policymakers in passing favorable

Armstrong also added that candidates will eventually be able to receive
donations in crypto via the new platform.

In the future, Coinbase plans to include information on candidates running
for office (in addition to elected officials) as well as intel on
politicians in other countries.

The move comes as the crypto industry fights back against regulators’
increased scrutiny.

Armstrong announced last week that Coinbase will back a lawsuit brought
forward against the Treasury, following the department’s decision in
August to blacklist privacy protocol Tornado Cash on charges of money

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