Coinbase has launched a lobby group in a retaliatory move
against what the US-based cryptocurrency exchange has for a long time described
as an unclear regulatory framework for the industry. The group will reportedly
shape the crypto regulatory landscape, influence regulatory decisions, and
safeguard the interests of the industry.
Dubbed Stand with Crypto
Alliance, the group will reportedly bring together the dispersed crypto
community to speak with a unified voice. Thus, according to a statement by the
company, Stand with Crypto
Alliance will advocate for forward-thinking policies aimed at
modernizing the financial system in the US.
Additionally, the
alliance will rally the decentralized cryptocurrency community to hold the
lawmakers accountable as Congress convenes to vote on legislations aimed at
protecting consumers. While unveiling the group, Coinbase stated that
there were mounting risks facing the future of cryptocurrencies in the US. This
is despite 50 million Americans having already invested in the asset class.
“For far too long,
lawmakers have kicked the can on writing clear rules of the road, allowing
unelected, uninformed regulators to reign unchecked, pursuing policies that are
undermining the economic security of the US, and…
