Coinbase CEO Brian Armstrong has urged the crypto industry to push for regulatory clarity by supporting pro-crypto political candidates and voting out those against crypto.

In a June 3 blog post titled “How to get regulatory clarity for crypto,” Armstrong emphasized Coinbase’s significant investment in policy efforts and commitment to continue these investments as crypto regulations evolve worldwide. He stated:

“We are deeply engaged in policy efforts to defend our customers’ rights and advance economic freedom.”

Armstrong mentioned two main approaches to achieving regulatory clarity: creating new case law through courts and passing new legislation through Congress. He noted the challenges of the current political climate, stating:

“In our divided government, the default is that nothing will happen unless the cost of inaction is greater than doing the right thing.”

To address these challenges, Armstrong called for a bipartisan effort to elect pro-crypto candidates and remove anti-crypto politicians. Highlighting that 52 million Americans own digital assets, he described the crypto community as significant, diverse, and bipartisan.

“Crypto is a truly bipartisan issue, with important supporters on both sides,” he said.

Elections are key

Armstrong highlighted StandWithCrypto.org, a grassroots movement backed by Coinbase, which has gathered over 900,000 advocates nationwide, particularly in battleground states like Georgia and Arizona. These advocates have influenced key legislative votes such as SAB121 and FIT21. Coinbase aims to mobilize over 1 million advocates by Labor Day, providing resources like candidate scorecards, tools to contact representatives, donation options, and voter registration assistance.

Identifying key political races for the House, Senate, and Presidency as critical for future crypto legislation, Armstrong urged crypto holders to support pro-crypto candidates in upcoming elections.

“52 million Americans have owned crypto. They want clear rules that protect consumers and allow innovation to happen here in America.”

He concluded by stressing the need for updated financial infrastructure and economic freedom.