Coinbase has launched a new advocacy group named the Stand With Crypto Alliance. Its purpose is to engage the crypto sector in the American legislative dialogue. They also aim to influence the future trajectory of the US crypto landscape.
This new initiative by Coinbase seeks to rally a united crypto community in America, advocating for the establishment of updated crypto laws and regulations. The Stand With Crypto Alliance is the first of its kind in the US advocacy space. According to Coinbase’s website,
“Current legislators have been slow in setting clear guidelines, allowing unappointed, ill-informed regulators to wield unchecked power. Their actions could potentially jeopardize US economic stability and threaten its position as an innovation leader.”
Moreover, according to Coinbase, about 87% of US citizens believe there is a need for modifications or a complete overhaul of the financial system.
This new venture by Coinbase emerges amidst the complex regulatory environment that the crypto world currently faces in America.
Regulatory bodies such as the US CFTC and the SEC have targeted crypto platforms, including, but not limited to, Coinbase and Binance.