Crypto exchange giant Coinbase has launched a grassroots campaign to promote friendly cryptocurrency policies in the United States.
This development is in response to the Securities and Exchange Commission (SEC) stance, claiming that all cryptocurrencies apart from Bitcoin are securities.
Investors King understands that of late, the SEC has been on the offensive against cryptocurrency exchanges and the entire industry.
Recall that SEC Chairman, Gary Gensler had recently stated that Ethereum is an asset while urging crypto exchanges to register as securities trading platforms.
However, the reactions of crypto exchanges as well as traders have been mostly negative, with Coinbase CEO Brian Armstrong leading the charge to defend crypto.
Thereby, part of the strategy adopted by Coinbase is the grassroots campaign tagged as Crypto435, apparently referring to the United States’ 435 congressional districts.
Coinbase holds the opinion that the campaign is a necessary step to bring the crypto community together and influence the country’s laws and policies.
This is not the first time Coinbase will be advocating or fronting for crypto adoption within the corporate or government establishment in the United States.
In a post on the Twitter platform, the company cited the need to “educate everyday Americans” about cryptocurrency, as well as help policymakers “get it right” when it comes to cryptocurrency matters.
Coinbase is currently calling on its users to join Crypto435, which will involve establishing open communication channels with representatives in Congress, as well as participating in their Coinbase-sponsored events with the aim of educating a broader audience about cryptocurrency.
Experts and opinion leaders believe that the initiative might pave the way for crypto companies and everyday traders to form a unified voice when it comes to cryptocurrency policies. This as well might lead to more crypto adoption.
The company hopes that with enough lobbying and grassroots efforts, the crypto industry would be able to develop proper regulations that allow for innovation and financial inclusion for all.
