One of the biggest cryptocurrency exchanges, Coinbase, will highlight politicians with pro-crypto agendas. Coinbase Global Inc. just announced that they are going to add a scorecard that will include politicians who are supporting crypto. Like all crypto-related companies, Coinbase is fed up with lawmakers and regulators. Most companies are frustrated by them because of the way they try to portray the crypto industry as a whole. This scorecard will be available on the Coinbase app soon.
This update is mainly going to target the United States of America since Coinbase is the biggest cryptocurrency exchange in the US. Using the Coinbase app, US citizens can now see the scores of every member of Congress based on their beliefs regarding cryptocurrencies. Brian Armstrong, CEO of Coinbase, made this public last week on Twitter. Moreover, among other things, US citizens can also check local town hall events using the app. Many see this as an attempt to mobilize voters for the 2024 elections. By doing so, Coinbase’s CEO wants to do his part in promoting cryptocurrency-friendly politicians.
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 live. pic.twitter.com/3GqWZIioZQ
— Brian Armstrong (@brian_armstrong) September 14, 2022
According to his tweets, such efforts will continue to grow globally. Currently, most Coinbase users are based in the United States. However, as Coinbase overcomes competition, Armstrong believes it will attract more international users. This can lead to Coinbase being able to support political candidates in the global sphere. Furthermore, political candidates can also ask for donations in crypto, making donations far easier.
As crypto regulations become a bigger problem every day, Coinbase is one of the pioneers working towards shaping the regulatory environment – for good. Just recently, Coinbase launched a voter registration tool. Moreover, Coinbase is backing a lawsuit filed against the Treasury Department for their decision to sanction Tornado Cash.
Coinbase’s Political Past
Being on the political scene is not something new for Coinbase. This company spent millions on prior political campaigns lobbying for certain individuals. The company even launched a political action committee earlier this year. Coinbase claims that this was done to ensure that employees have a way to donate directly to members of Congress through crypto. Coinbase may be doing this so that people begin to support pro-crypto politicians more. They are trying to be directly involved in lobbying and political campaigns. This company is not the only crypto company that has made an appearance on the political scene, however. Crypto giants like the FTX exchange and Galaxy Digital are also huge crypto donors regarding politics.