On August 25, Coinbase, America’s leading cryptocurrency exchange, announced the launch of a crypto policy education initiative in the U.S. that will include a voter registration portal based on candidates’ positions on cryptocurrencies.
According to Coinbase, the educational initiative will let users freely express themselves on the various crypto-related political and regulatory issues in the U.S. through discussions and tools that are useful for learning.
Involving The Crypto Community In The Political Debate
Faryar Shirzad, Chief Policy Officer at Coinbase, who served as security advisor to the White House, said via his Twitter account that the exchange launched this initiative because “electing leaders who are pro innovation and who favor sensible crypto policy is critical to [Coinabse’s] mission.”
1/ Electing leaders who are pro innovation and who favor sensible crypto policy is critical to our mission of increasing economic freedom. That’s why we’re launching an initiative to help the crypto community to get engaged and be heard. Read more: https://t.co/5eNWRdWjvs
— Faryar Shirzad (@faryarshirzad) August 25, 2022
Shirzad pointed out that the company believes it is importante to make informed decisions when it comes to voting. The idea behind this new initiative is to help users make up their minds and elect the candidate that fits them the most:
“The leaders we elect this November will be the ones making critical decisions about the future of crypto, blockchain, and web3 – and about your economic freedom […] The most important way to make a difference in shaping what happens is by being informed and by voting. That’s why we’re launching a voter registration portal and education initiative.”
In addition, participants will be able to ask questions to the candidates about crypto topics of interest so they can understand their positions at a regulatory level. This option could strengthen the relationship between politicians and the crypto community.
Coinbase And Its Changing Relationship With Politics
Coinbase is not exactly know for its tendency to promote free speach when it comes to US politics.
On September 27, 2020, Amstrong published a letter to its employees stating that the company would not allow any debate on political candidates, calling for the resignation of workers who did not want to abide by the company’s policies.
“[not allowed] Debate causes or political candidates internally; expect the company to represent our personal beliefs externally; assume negative intent, or not have each other’s back [and] take on activism outside of our core mission at work.”
This happened during Trump’s political campaign for reelection. However, the company’s neutral stance appears to have changed to a more proactive one after the multiple attacks from regulators and users.
Shirzad argues that the Coinbase’s policy is to stay away from politics as long as politicians stay away from its mission. He says that the 2022 U.S midterm election is a key moment for Coinbase, which could explain why the company is acting so differently vis-à-vis the 2020 presidential elections:
2/ We’ve always said that we will get involved in the political process in moments when it directly impacts our mission — the 2022 U.S. midterm election is one of those key moments.
— Faryar Shirzad (@faryarshirzad) August 25, 2022
Coinbase is currently facing a legal investigation by the U. S. Securities and Exchange Commission (SEC) over the listing of nine unregulated securities. A crypto-friendly regulatory framework could really help them and the whole crypto industry grow.
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