Monday, October 2, 2023

DC didn’t realize how powerful the crypto vote was

The CEO of Coinbase, Brian Armstrong shared his predictions about the role of the crypto sector in next year’s US elections, saying that representatives in Washington, DC, do not fully understand the voting power of the crypto community in the future. election.

“I don’t think everyone in DC really realizes how powerful the crypto voting community bloc is. your position on cryptocurrencies?” Armstrong said in a recent interview with Yahoo Finance.

According to Armstrong, About 56 million people in the US already use cryptocurrencies. “There are 5 times with electric cars, for example. And we are voters”, he pointed out. He believes that the gap between current cryptocurrency policies and the needs of Americans will make cryptocurrencies a hot topic in 2024.

Dc Didn'T Realize How Powerful The Crypto Vote Was

In fact, presidential candidates are actively talking about cryptocurrencies. Florida Governor Ron DeSantis has promised to ban central bank digital currencies (CBDCs) if he is elected president. Robert F. Kennedy Jr. also opposed. exploring the concept of a digital dollar. They are Kennedy Jr. and DeSantis cited privacy concerns as a reason for their stance. However, the candidates adopted a pro-cryptocurrency campaign strategy.

There is likely to be a CBDC supporter in the White House, according to a recent report from crypto asset manager Grayscale. Leading the 2024 presidential polls in their respective parties, Joe Biden and Donald Trump “favorably explore CBDCs,” the analysis says.

Coinbase is lobbying in Washington, DC for a clear regulatory framework in the crypto space. Congress is actively debating bipartisan bills that could ultimately set standards for cryptocurrency businesses and users across the country. But legislation is not the only option for crypto companies, Armstrong said, pointing to the possibility of a new chairman of the Securities and Exchange Commission (SEC) in 2024.

“I also think there’s a possibility we’ll have a different president in 2024 or later,” he suggested, referring to a possible replacement for Gary Gensler. Coinbase was sued by the SEC in June for alleged violations of securities laws, alleging that a number of tokens sold on the exchange are securities.

Clarification: The information and/or opinions expressed in this article do not represent the views or editorial line of Cointelegraph. The information presented here should not be considered as financial advice or investment recommendations. All investments and commercial activities involve risks and it is the responsibility of each person to do their due research before making an investment decision.

Investments in crypto assets are not regulated. It may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed at or accessible to investors in Spain.

Nation World News Desk
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