‘Protect the value of your crypto’ by contacting lawmakers, says Coinbase’s Brian Armstrong
Coinbase considers cryptocurrency to be “inherently political,” even if the company discourages workers from doing so.
There is a fresh batch of crypto laws being marked up this week on Capitol Hill, and Brian Armstrong is encouraging Americans to call their lawmakers and urge them to vote ‘yes’ on these proposals.
Armstrong tweeted a link to a landing page on Coinbase with the headline “Important step you can take to safeguard the worth of your crypto in America.” The website encourages visitors to take action by linking to ActNow with the message, “We need your assistance to make sure that legislation keeps moving forward.”
Armstrong’s post comes after Coinbase made an effort to define its position on political discourse in the workplace two years ago.
In a follow-up blog post, Coinbase said that because cryptocurrencies are “inherently political,” it was “ok being social about this one specific topic because it connects to our mission.”
Coinbase has cracked down on “activism beyond our core mission at work.” “If a bill is introduced about crypto, we might get involved here, but we usually don’t get involved in policy decisions about, say, healthcare or education,” the first blog post said at the time.
The firm has been consistent in its position that its platform may be used for crypto politics. It launched a publicity drive on a national scale to educate legislators on the significance of cryptocurrencies.
After Coinbase received a Wells notice and then a lawsuit from the SEC this year, the company and Armstrong used their influential positions to lobby for more clarification from regulators.
Coinbase has filed various lawsuits against the Securities and Exchange Commission. Armstrong, along with Coinbase’s Chief Legal Officer Paul Grewal, has taken to Twitter and other social media to express his approval of proposed crypto-related laws.
