- Coinbase has added a lawmaker Scorecard to the app to improve policy advocacy.
- Users who register can vote and also help to know about local town hall events.
The verified user in the coinbase community can now see who is in the congress or even what position they hold in the Cryptocurrency policies. Coinbase CEO Brian Armstrong announced on September 14th that the company intends to integrate crypto policy efforts into its app. According to him, it helps the 103 million verified users know where local government leaders and representatives stand on cryptocurrency.
1/ Starting today, Coinbase will begin integrating our crypto policy efforts right into our app. These will help our 103M verified users get educated on the crypto positions held by political leaders where they live. pic.twitter.com/3GqWZIioZQ
— Brian Armstrong (@brian_armstrong) September 14, 2022
Reason and Uses of the Integration
Coinbase, the largest cryptocurrency in the United States, is adding a politician scorecard to its app in order to improve policy advocacy efforts after expressing anger with lawmakers and regulators.
Customers in the United States can examine crypto sentiment rankings for members of Congress based on previous statements, as Armstrong stated in a series of tweets on Wednesday. They can also register to vote and learn about local town hall events. He further stated that the initiatives will be expanded to global elections and will assist candidates in seeking cryptocurrency donations.
Coinbase is one of the crypto firms attempting to create the regulatory environment for the digital asset market. It recently developed a voter registration tool and assisted in a lawsuit brought by two Coinbase employees and others against the Treasury Department’s decision to penalize coin mixer Tornado Cash.
Coinbase has also used more traditional means to gain influence in Washington. It spent $1 million on promotion in the second quarter, a new high, and in February established a political action committee to pool employee donations and offer gifts to members of Congress.
And this announcement came from the CEO after the chief policy officer, Faryar Shirzad, stated in a tweet a month earlier.