Coinbase Launches Crypto Policy Scorecard for Politicians
Coinbase Introduces Crypto Policy Scorecard
Coinbase has unveiled a new feature within its app: a scorecard assessing U.S. politicians' crypto-friendliness. This tool educates users on their local leaders' crypto positions, enabling informed engagement.
How the Scorecard Works
The scorecard evaluates members of Congress based on:
- Sponsored or co-sponsored legislation
- Public statements
- Votes on crypto-related issues
- Op-eds and letters
- Crypto-caucus membership
- Hosting crypto-focused events
- Accepting crypto donations
Grades are determined by points assigned to these actions, providing an overall assessment.
Current Coverage and Implications
Only half the Senate and a quarter of the House have grades due to limited engagement. This highlights the need for increased political involvement in crypto policy.
Expanding Influence
Coinbase aims to support pro-crypto candidates with crypto donations and expand the scorecard globally. The crypto industry's political donations have surpassed traditional sectors, indicating growing influence.
Regulatory Engagement
Coinbase is actively shaping crypto regulations through lobbying and a PAC, despite facing an SEC probe into its staking programs.
This initiative underscores Coinbase's commitment to influencing the digital asset regulatory landscape.
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