Cryptocurrency exchange Coinbase is expanding its advocacy for digital asset regulation to Canada after successful initiatives in the United States and the United Kingdom.
Launching Stand With Crypto Canada
In an announcement shared with Cointelegraph, a Coinbase spokesperson revealed that the exchange would launch its Stand With Crypto Canada campaign on July 12. The campaign aims to educate Canadians about cryptocurrencies and blockchain technology. The spokesperson hinted that Coinbase plans to use this initiative to deepen policymakers’ understanding of the opportunities presented by emerging technologies like blockchain.
The U.S. Stand With Crypto initiative lists the pro- and anti-crypto statements made by many prospective candidates for federal, state, and local offices. Additionally, the project launched a political action committee in May to support candidates in the 2024 election. This initiative serves to highlight the stance of lawmakers on cryptocurrency and to influence public policy in favor of digital assets.
Focus on Canadian Crypto Regulation
Stand With Crypto Canada is expected to advocate for clearer crypto regulations and updates to the country’s financial system, reflecting residents’ appetite for change. Canada will hold its next federal election before October 2025, where voters will decide on members of the House of Commons in the country’s Parliament.
“The timing of our push in Canada reflects our broader international strategy to engage with the Canadian community and policymakers proactively,” Coinbase Canada CEO Lucas Matheson told Cointelegraph. “Our activities will focus on organizing educational workshops and seminars for policymakers, facilitating dialogue between industry leaders and government officials, and supporting the development of research and policy papers.”
Stand With Crypto in the U.S.
In the United States, Stand With Crypto has focused much of its recent efforts on encouraging users to support lawmakers voting to overturn President Joe Biden’s veto of a resolution rescinding the Securities and Exchange Commission’s Staff Accounting Bulletin 121. The group has also highlighted lawmakers who voted in favor of the Financial Innovation and Technology for the 21st Century (FIT21) Act, rating them as pro- or anti-crypto.
- Educational Workshops: Organizing workshops for policymakers to enhance their understanding of blockchain and crypto.
- Dialogue Facilitation: Creating platforms for discussions between industry leaders and government officials.
- Research and Policy Papers: Supporting the development of documents that outline the benefits and regulatory needs of digital assets.
| Activity | Description |
|---|---|
| Educational Workshops | Workshops aimed at educating policymakers about blockchain and cryptocurrencies. |
| Dialogue Facilitation | Platforms and events to foster discussions between industry leaders and government officials. |
| Research and Policy Papers | Development and dissemination of research papers to inform and guide policy-making on digital assets. |
| Political Action | Supporting political candidates who are favorable to cryptocurrency regulations through a political action committee. |
| Public Awareness Campaigns | Initiatives to raise awareness among the general public about the benefits and risks associated with digital assets and the need for proper regulation. |
Coinbase’s Stand With Crypto initiative’s expansion to Canada signifies a strategic effort to shape the regulatory landscape for cryptocurrencies across multiple regions. By engaging with policymakers, organizing educational efforts, and fostering dialogue between industry leaders and government officials, Coinbase aims to create a more informed and supportive environment for digital assets in Canada.
Featured image credit: Focal Foto via Flickr
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