Chris Curl,
Editor
March 9, 2023
Since the FTX collapse in November, SEC Chairman Gary Gensler has been leveling up his attack against the crypto industry.
He has launched several lawsuits against crypto projects and attacked exchanges over their offering of staking rewards. He has recently reiterated that he views everything other than Bitcoin to be unregistered securities.
This leaves the entire crypto ecosystem open to litigation at any time.
Many crypto advocates are banding together to make positive regulatory change.
Check out our latest free research reports for in depth analysis on specific market trends.
View ReportsCoinbase (NASDAQ: COIN) has recently launched a grassroots campaign to influence lawmakers and regulators in the US. The campaign, called "Crypto Community for Change," aims to encourage the company's customers and other cryptocurrency enthusiasts to engage with their elected officials and express their support for the industry.
Coinbase's move comes at a time when the regulatory landscape for cryptocurrencies is uncertain. Many lawmakers and regulators have expressed concerns about the potential risks associated with digital assets, including money laundering, market manipulation, and investor protection.
In response to these concerns, Coinbase CEO Brian Armstrong, has been working to educate policymakers about the benefits of cryptocurrencies and blockchain technology. He believes that engaging with lawmakers and regulators will help shape a regulatory framework that will promote innovation while also protecting consumers.
The “Crypto Community for Change” campaign is part of this broader effort.
Through the campaign, Coinbase is encouraging its customers and other members of the cryptocurrency community to sign a petition in support of the industry. The petition calls on lawmakers to create a clear regulatory framework for cryptocurrencies that will promote innovation and protect consumers.
In addition to the petition, Coinbase is also providing resources and tools to help its customers engage with their elected officials. These include a guide on how to contact your representatives, as well as sample emails and social media posts that users can customize and send to their lawmakers.
The campaign has already gained traction, with thousands of people signing the petition and expressing their support for the industry. Coinbase hopes that this grassroots effort will help create a more favorable regulatory environment for cryptocurrencies and blockchain technology in the US.
You can sign the petition here.
Check out our premium publications for more trading recommendations and exclusive coverage on the markets.
View PublicationsAnother group advocating for cryptocurrency consumers is rallying to demand more protection for investors in the volatile digital currency market. The group, called the Crypto Council for Innovation, is urging regulators to take action to safeguard investors against scams and frauds.
The council, which includes prominent players in the cryptocurrency industry such as Coinbase, Fidelity Digital Assets, and Square (NYSE: SQ), believes that the lack of regulatory oversight in the cryptocurrency market has made it vulnerable to scams and other fraudulent activities. They are calling on regulators to step up efforts to protect investors and provide more clarity around regulations.
The council is also advocating for greater education for investors, as many people may not fully understand the risks associated with investing in cryptocurrencies. They are urging investors to do their research and only invest what they can afford to lose.
The cryptocurrency market has experienced significant growth in recent years, with the total market capitalization of cryptocurrencies reaching over $2 trillion. However, the market remains highly volatile, and investors have been susceptible to scams and frauds. The Crypto Council for Innovation hopes to address these issues and create a safer environment for investors in the cryptocurrency market.
Overall, the council's efforts highlight the need for greater regulatory oversight and education in crypto. As the market continues to grow and evolve, it is important to ensure that investors are protected, and that scams and fraudulent activities are prevented.
But most importantly, our leaders should be fostering innovation and growth in new burgeoning industries to ensure that America can continue to be the global leader in technology and finance.
Continue reading here for three cryptos I’m currently buying ahead of the next leg up in the sector.
Chris Curl
Editor, Daily Profit Cycle