American cryptocurrency exchange Coinbase hits the streets of the United States with crypto evangelism in a bid of mobilizing crypto advocates who will influence policymaking and equip them with the necessary tools and resources. The digital asset firm took to Twitter to announce the launch of a grassroots campaign initiative dubbed Crypto 435.
1/ It’s time to advance pro-crypto policy in all 435 Congressional Districts across the U.S.
Introducing #Crypto435, our campaign to grow the crypto advocacy community and share tools and resources to make your voice heard.
Become an advocate today 👇 https://t.co/TPJhtoP9eC
— Coinbase (@coinbase) February 28, 2023
Crypto 435 is aimed at promoting “pro-crypto policy in all 435 Congressional Districts across the U.S.,” as well as raising entities who would know how to access local lawmakers.
The Coinbase Crypto 435 grassroots campaign is exploring strategies to support crypto advocates and at the same time making certain that regulators and lawmakers roll out crypto-friendly policies that are beneficial to all. Protecting jobs in the crypto industry is also a core focus of Crypto 435
“We need thoughtful policymaking and smart regulation so that we can continue to advance crypto and web3, and make progress on our mission to increase economic freedom,” the American crypto trading platform tweeted.
Coinbase believes that the crypto industry has reached a ‘pivotal moment’ where political involvement is expedient. In accordance, the decisions made by legislators and regulators would be instrumental to how crypto is bought and sold. Furthermore, Coinbase posted the link to an online petition and a signup page where users are asked to provide their name, address, phone number, and email address.
Once a user signs up, he or she will be privy to “information about how to contact specific politicians in their local district, what those politicians’ records on crypto are, tips for making your voices heard in D.C., and more” according to Coinbase.
Coinbase Receive ‘Relist’ Request From XRP Fans
Meanwhile, the announcement sparked several reactions among crypto Twitter community members. Some people have applauded the move but XRP fans tagged the announcement as “hypocritical.”
In their argument, they emphasized that Coinbase would not have removed the XRP token from its list after U.S. regulator Securities and Exchange Commission (SEC) labeled the digital assets as securities if it really wanted to combat political tyranny in the crypto industry. One crypto Twitter fan identified as @teddy_rauxpin went as far as advising Coinbase to relish XRP.
On one hand, Coinbase had an issue earlier with the SEC when the latter categorized its staking program as securities. Brian Armstrong, the Chief Executive Officer (CEO) of the exchange claimed that the staking program does not qualify as securities, he is therefore ready to defend the cause.
