By Faryar Shirzad, Chief Policy Officer
Tl;dr: We’re launching our U.S. crypto policy education initiative today, which includes a voter registration portal, to respond to our community’s strong interest in learning more about where their representatives and candidates for public office stand on issues of importance to the crypto community, and in finding ways to have their voices heard.
Today, Coinbase launched a voter registration tool as part of a broader education initiative to give the crypto community tools to participate in the critical policy discussions happening across the United States. We’ve heard loud and clear from our customers that they want to get involved in these debates and are looking for trusted resources, tools, and support to help them be heard.
Why Now?
Today, more than ever, crypto and web3 are cemented as topics of public interest and the political debate. Political candidates are talking about them, the public is interested in them, and the crypto community wants to help shape them. This is especially true as we approach the 2022 midterm elections in the United States, where nearly 1 in 4 households (24% to be exact) own cryptocurrency, according to a 2022 Morning Consult report.
We don’t regularly talk about politics here at Coinbase, but we’ve always said that we will engage in the political process at moments when it relates to our mission of increasing economic freedom in the world. The 2022 U.S. midterms are one of those moments. Being informed and being engaged are mission critical for the future of crypto.
In the next few years, legislation and regulations will be developed that will help shape the direction of our industry for the coming decades. In this Congress alone, more than 50 bills have been introduced aiming to shape some aspect of the crypto regulatory landscape. And policymakers are just getting started.
Put simply, this year’s U.S. midterm elections are the most important in crypto’s history. The leaders we elect in November will be making key decisions about how crypto, blockchain, and web3 are regulated. It is essential that our elected leaders understand the potential of crypto and support a policy framework that fosters continued innovation here in the United States and forward progress toward a future of economic freedom for everyone in the world. For our part, Coinbase will continue to be a partner to lawmakers and regulators as these conversations play out.
Why Voter Resources?
We’ve also heard from the crypto community and our customers that they want to understand how these ongoing debates will impact the future of crypto, and they’re eager for resources that help them engage in and shape these conversations. We know that two of the biggest barriers to participating in the political process are education on the issues and access to voting. Helping empower the crypto community by helping them overcome these barriers is at the heart of our voter registration and education program. We are eager to do our part by providing trusted resources for crypto voters on the issues, candidates, and political process that will define crypto’s future. With all this, we are calling on the crypto community to register and get involved this fall by learning about the candidates and the issues, by finding opportunities to talk to representatives and candidates, including at town halls and candidate forums, and, above all, by voting.
Sensible and workable crypto regulations are critical for maintaining U.S. competitiveness and unlocking innovation. Engaging in the 2022 U.S. midterm elections gives everyone a chance to be an important part of the conversation on the future of crypto.