Coinbase Targets Nine U.S. States in 'Stand with Crypto' Campaign to Advocate for Crypto-friendly Legislation
Summary:
Coinbase, the renowned cryptocurrency exchange, has decided to stage its "Stand with Crypto" campaign in nine US states, with a key focus on four "swing states" where voters have reportedly shown less support for candidates opposing crypto. The campaign encourages crypto owners and supporters to get involved, and Coinbase is also organizing a “Stand with Crypto Day” in Washington D.C. to advocate for crypto-friendly policies.
The popular cryptocurrency exchange, Coinbase, announced that their "Stand with Crypto" campaign will be staged primarily in nine specific U.S. states, which include four "swing states" where it has been gauged that voters are less inclined to favor presidential candidates who are against cryptocurrency. New Hampshire, Nevada, Ohio, and Pennsylvania are the noteworthy “swing states” which will be key to the influence of Coinbase's “Stand with Crypto” initiative, as outlined in their September 19 blog. "Our 2022 autumn poll showed that more than half (55%) of voters in the aforementioned states were not likely to support candidates who do not favor crypto and Web3," Coinbase revealed, referencing information from a Morning Consult survey conducted a year earlier. They highlighted that 52 million Americans, who are younger and more diverse than the overall U.S. population, own crypto and need their voices to be heard in Congress, promising a change for this scenario.
The poll, published in October, covered 800 potential voters from the mentioned four states. Approximately 13-19% of poll participants acknowledged owning cryptocurrency at the time of the survey. Furthermore, Coinbase mentioned that in Nevada, Ohio, and Pennsylvania, over 40% of crypto owners utilize blockchain technology to send money abroad, assisting family members with expenses such as food, shelter, and medical care, offering a cheaper option than traditional bank-based international transfers.
In the backdrop of the ongoing "Stand With Crypto" campaign, a 14-month advocacy launched in August by Coinbase to influence crypto regulations in the U.S., Coinbase plans to rally crypto users. While honing in on the four “swing states”, the campaign will also prioritize Arizona, California, Georgia, Illinois, and Wisconsin, which Coinbase identified as having a significant concentration of crypto owners.
Coinbase explained, "As more officials in Congress become supportive of legislation to regulate cryptocurrency and advance the financial system, others are maintaining the status quo.” A key aspect of the campaign is a “Stand with Crypto Day”, an upcoming event on Sept. 27 in Washington D.C., geared to promote enhanced cryptocurrency policies and innovation.
The campaign advances the idea of crypto owners and supporters reaching out to their Congress representatives and pressing for coherent, rational legislation surrounding cryptocurrency. Coinbase stated: "We begin this venture by tapping into the collective power of the community, moving the discussion from social media to phone conversations." They're encouraging crypto enthusiasts to spend a minute of their day calling their member of Congress, advocating for sensible crypto-friendly legislation.
Published At
9/20/2023 12:42:26 AM
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