- The organization is called Stand with Crypto Alliance.
- The goal is to build an active movement in support of rulemaking in the digital asset sector.
- According to the exchange, more than 54,000 lawyers nationwide have already joined the group.
Cryptocurrency exchange Coinbase has announced a new initiative in the U.S. – Stand with Crypto Alliance. The company said it is a nonprofit advocacy organization whose goal is to support the sector.
“By providing a launching pad, the alliance is mobilizing the full force of the decentralized community to send a clear message to lawmakers – the vacations are over. “Cryptocurrency is strong in America, and they will be held accountable for idling this fall when Congress votes on common sense legislation and serves to protect consumers and their right to participate,” the press release stated.
The Coinbase statement refers to the Financial Innovation and Technology for the 21st Century bill. In late July 2023, the bill received approval first from the Financial Services Committee and then from the Agriculture Committee.
The initiative is intended to form a regulatory framework for cryptocurrencies. The exact date it will be voted on is unknown, but it is expected to happen, presumably in the fall of 2023.
Coinbase said the group was created to develop a grassroots movement focused on actively supporting rulemaking.
The page where you can apply to join the organization says more than 54,000 lawyers nationwide have joined.
It also lists the project’s patrons. According to him, to finance the organization has already transferred about $2000. Recall, Coinbase filed a motion to dismiss the lawsuit of the U.S. Securities and Exchange Commission. The company also continues to press the regulator for a response to a petition on rulemaking in the sector.
The company also continues to press the regulator for a response to a petition on rulemaking in the sector.