Coinbase, the leading cryptocurrency exchange, is diving headfirst into political advocacy. With a determined focus on specific states, Coinbase’s “Stand with Crypto” campaign aims to influence crypto-friendly policies and regulations. Their objective? Focus on key territories, including four pivotal swing states that are essential cogs in the political machinery.
Targeting Swing States with A Purpose
New Hampshire, Nevada, Ohio, and Pennsylvania are the four swing states under Coinbase’s radar. The selection of these states was far from arbitrary. A 2022 Morning Consult poll revealed that 55% of voters from these territories are hesitant about supporting presidential candidates with an anti-crypto stance. The figures are staggering, given that only 13–19% of these respondents admitted to owning cryptocurrencies at the time of the survey.
Moreover, the survey brought to light some notable trends in the crypto arena. For example, in states like Nevada, Ohio, and Pennsylvania, a significant percentage of crypto owners have been leveraging the blockchain’s potential, not merely for investment purposes. More than 40% reportedly used blockchain to send funds overseas to support family members, a method far more economical than traditional bank charges.
The Bigger Picture: Nationwide Crypto Advocacy
Coinbase’s ambitions aren’t restricted to these four swing states. The “Stand with Crypto” campaign, which initiated in August, will be broadening its reach to states like Arizona, California, Georgia, Illinois, and Wisconsin. These states show a higher percentage of crypto owners, a crucial demographic for the exchange’s overarching mission.
Coinbase’s intent is clear and commendable, to a degree. The need for crypto legislation in the U.S. is palpable. A handful of legislators are vocal about regulating cryptocurrency, hoping to revolutionize the financial system. On the contrary, many are content to maintain the status quo, reflecting a stagnation that’s becoming worryingly commonplace.
Mobilizing the Masses: From Tweets to Tangible Action
In a bid to propel change, Coinbase is orchestrating a “Stand with Crypto Day” scheduled for September 27 in Washington, D.C. The event aims to foster an environment conducive to crypto innovation and policy reforms. But there’s more to this campaign than just seminars and discussions.
The actual mission? Mobilizing the masses. Coinbase is not just advocating for change – they’re urging crypto enthusiasts to be a part of the revolution. They’re challenging supporters to pick up their phones and directly reach out to their Congressional representatives. The demand? Clear, rational crypto legislation.
Let’s face it, the crypto community, with all its passion and vigor, is often confined to social platforms. Coinbase is attempting to channel that fiery energy towards tangible action, steering the conversation from social media timelines to the corridors of power.
Bottomline is while the efforts of Coinbase can be seen as a tactical move in their favor, it also brings to the fore a pressing issue – the dire need for clear-cut crypto regulations in the U.S. It remains to be seen how effective this campaign will be, and if the political bigwigs will take notice. One thing’s for certain, Coinbase is not willing to sit on the sidelines, and their audacity could very well reshape the crypto-political landscape.
Source: https://www.cryptopolitan.com/coinbase-swing-states-crypto-lobbying-blitz/