Coinbase has announced the launch of a crypto advocacy group tasked with promoting the interests of the crypto community.
The goal is to encourage the cryptocurrency sector to engage in U.S. legislative activity. The Stand With Crypto Alliance also seeks to influence how the U.S.’s crypto ecosystem will look.
Coinbase’s new organization aims to build a strong American crypto community that will strive to support the development of new crypto laws and regulations by U.S. lawmakers.
The U.S.’s first independent advocacy group, Stand Crypto Alliance, was founded. According to Coinbase’s website:
“Lawmakers have kicked the can on writing clear rules of the road, allowing unelected, uninformed regulators to reign unchecked, pursuing policies that are undermining U.S. economic security, and putting U.S. leadership in innovation at risk.”
Stand Crypto Alliance
Additionally, according to Coinbase, 87% of Americans think the financial system needs modifications or a total reform. The new Coinbase endeavor has surfaced in the complicated regulatory environment that currently surrounds the U.S. cryptocurrency market.
The U.S. Commodities and Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) have been going after cryptocurrency exchanges, including Coinbase and Binance.
