Coinbase announce’s the launch of Crypto435, a grassroots campaign aimed at promoting pro-crypto policies. It is the perfect opportunity to sway opinions in all 435 Congressional Districts across the United States, and now is the time to act.’ Link to the campaign below.
Here’s Why Coinbase’s support for Crypto Advocacy Matters:
- Crypto435 will influence laws and policies
- Crypto435 will bring the crypto community together and there is strength in numbers
- Crypto435 will promote innovation and protect jobs
- Crypto435 will educate everyday Americans about the power of crypto.
- Link to Campaign – https://actnow.io/z31xN5P
Coinbase campaign states that,.decisions regarding the future of cryptocurrency are being made by policymakers in Washington DC and state capitals throughout the United States. These decisions will have an impact on your ability to build, buy, sell, and use cryptocurrency, including when and where you can do so. It is crucial that these policymakers make the right choices, and the only way to ensure this is by making your voice heard.
SEC has been harsh on crypto companies in the US. Without clear detailed regulations, SEC has been going after crypto companies which has been jeopardizing the innovation. Ripple Labs is one of the most known case which has been going on for years without any sight to resolve.
S.E.C. Chair Gary Gensler has argued that existing U.S. securities law applies to crypto in some cases. He even went to the extent recently saying apart from Bitcoin everything else is a security. This will kill the crypto markets in the United States. Many companies have already claimed that crypto US laws are very vague and there is no way to comply with them or know how to.
Similar to US has been India, where there has never been a full ban but regulators ( Reserve Bank of India) have made it almost impossible to buy crypto and exchanges cannot operate. Entrepreneurs have either chosen Singapore or Dubai for their crypto venture to escape the uncertainty of the government. Last week in G20 summit held in Bengaluru, India, IMF even mentioned about crypto ban as needed which can be read in the link below while countries like Hong Kong, Dubai and Singapore have open doors for blockchain and crypto innovation.
- Banning of Cryptocurrency should still be on the table – IMF
- Hong Kong plans to make crypto purchase and trading legal for all of its citizens
- Why is Dubai an Attractive Crypto Oasis?
Conclusion
With all these going on, it may be time for citizens in the Unites to take charge and speak to 435 Congressional Districts and lawmakers to use democracy to raise their voice for a balance and allow innovation in the country
Pic MarketBeat.com – MarketBeat
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