Coinbase CEO Calls Out Senator Warren and Others For Anti-Crypto Bill

Coinbase CEO Brian Armstrong has spoken up against  US Senators' anti-crypto stance, arguing that being anti-crypto is not a wise political move for the upcoming 2024 elections.

It was revealed by The Chamber of Digital Commerce that there was an attempt by Senators Marshall and Warren to get the American Bankers Association to support a new anti-crypto bill. Armstrong accused the senators of working with big banks.

Despite challenges, Armstrong highlights the growing influence of cryptocurrencies in the US. He stated that over 52 million Americans are part of the crypto community and many young people see crypto as a way to improve the economy compared to the very few people who believe in the current economy.

Armstrong has advised his over 1 million crypto supporters to stand for sensible crypto policies through the Stand With Crypto voting system. He emphasizes that public opinion can influence Congress's decisions on crypto regulations, saying “They won’t vote YES until they’ve heard from you [public]”.

In response to the FTX crisis, Senators Warren and Marshall introduced a bill in December 2022. This bill aims to make cryptocurrencies follow the same money-laundering rules as banks and other financial institutions.