Cryptocurrency

Coinbase Launches Pro-Cryptocurrency Politician Tool

Brian Armstrong, CEO and Co-Founder, Coinbase, speaks during the Milken Institute Global Conference on May 2, 2022 in Beverly Hills, California.

Brian Armstrong, CEO and Co-Founder of Coinbase.
Photo: PATRICK T. FALLON / Contributor (Getty Images)

Coinbase wants to talk politics again. The cryptocurrency has launched a tool to inform its users where their representatives stand on crypto. This week, Coinbase began integrating the company’s crypto policy efforts into its app. The company’s CEO, Brian Armstrong, said on Twitter the move will “help our 103M verified users get educated on the crypto positions held by political leaders where they live.”

The company pretty much banned debate over politics and social issues among its employees back in 2020, calling such discussions a distraction. “Even if we all agree something is a problem, we may not all agree on the solution,” Armstrong wrote in a September, 27 2020 blog post titled, “Coinbase is a mission focused company.”

There was a small caveat, though. Armstrong seemed open to the idea of discussing policy related to their mission (i.e legislation regarding the crypto industry). Armstrong wrote, “we may engage here.” Which seems to bring us to where we are now.

The crypto industry needs all the help it can get. It truly hasn’t been a great year for companies like Coinbase or their devoted users. So it’s understandable why those behind The Little Coin That Could may want to make sure people in Washington are on board with “increasing economic freedom in the world” as Armstrong wrote in his Twitter thread.

As for Coinbase users in the United States, you’ll now see a section within the app that’s dedicated to politics. The feature will show you how crypto-friendly politicians stack up based on a “scorecard” designed by Coinbase as well as allow you to both register to vote and find out about local town hall events.

We know there’s been plenty of debate as to how the crypto industry should be regulated and also plenty of discourse over whether the coins are securities, commodities, or something entirely separate. The Securities and Exchange Commission is also reportedly looking into Coinbase’s past, trying to identify whether the platform was letting people in the U.S. trade digital assets when they were not labeled as securities.

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