The crypto exchange Coinbase has launched Stand with Crypto initiative that unites global crypto advocates
Coinbase launched on Aug. 14 its new Stand With Crypto Alliance advocative initiative aimed at lobbying crypto-favourable legislation at a grassroots level.
The goal of the Stand with Crypto initiative is to form a passionate community of at least one million advocates committed to crypto innovation and sensible crypto policies. Although it potentially targets policymakers across the globe, the crypto exchange places a particular emphasis on addressing the US Congress.
Despite the scope of the provided services and global recognition, US-based crypto exchanges are facing utmost pressure from national regulators and lack of legal clarity regarding the digital asset space. CoinGecko has recently estimated that the market cap of cryptocurrencies considered securities by the SEC has reached over $91.3 billion.
According to the project’s website, a number of crypto advocates that are ready to support Coinbase in its vision equals 54500 at the moment. The project participants can sign up as a Stand With Crypto member, contact their local representative, donate to the cause, or mint one of the program’s dedicated non-fungible tokens (NFTs) called Shields on Coinbase’s new Base blockchain network.
In addition, Coinbase Stand with Crypto initiative provides a list of lawmakers who have previously expressed their pro-crypto opinions and may potentially represent the interests of the crypto community on a legislative level.
The program complements Coinbase’s previous crypto-lobbying campaigns and efforts such as “Moving America Forward” national ad campaign focusing on the critical role crypto might play in modernizing the global financial system.