Coinbase Launches “Stand with Crypto” Alliance to Unite Crypto Advocates

Coinbase Launches “Stand with Crypto” Alliance to Unite Crypto Advocates

The US-based crypto exchange company Coinbase has announced the launch of the “Stand with Crypto” alliance to have a say in the US legislative process by uniting crypto advocates under its umbrella.

In a blog post on Monday, August 14, Coinbase said that “Stand with Crypto” would be an on-chain crypto constituency advocacy organization that would leverage blockchain technology “to help organize the community into a powerful voice advocating for policies that will update our financial system and support economic empowerment.”

According to Coinbase, more than 50 million Americans hold digital assets, but “one thing is clear: the future of crypto in America is at risk.” Lawmakers have left these people at the mercy of “unelected, uninformed regulators” that are putting the US leadership in innovation and more than a million new jobs at risk. With the rest of the world, including China, embracing crypto, it is time for the US to start a crypto-forward policy approach.

The Stand with Crypto will be a “grassroots movement” organized on-chain to unite and mobilize the full force of the decentralized crypto community to counter anti-crypto legislation. The organization will try to influence lawmakers “this fall when Congress votes on common-sense legislation to protect consumers and their right to crypto.”

Coinbase has urged the community to join the movement by signing up on the newly launched website, contacting their local representative, and helping the effort by minting a Stand with Crypto supporter NFT on its layer-2 Base. Near 54K people have already signed up as of writing.

“Stand with Crypto” alliance

The community warmly welcomed the alliance’s launch by minting “Stand with Crypto”  NFT more than 160,000 times to raise more than $200K in less than 24 hours of the launch.

The crypto regulatory environment in the US has become quite suffocating, and Coinbase is among the companies suffering from this. It is currently embroiled in a legal fight with the US SEC, which alleged the exchange for operating an unregistered securities exchange.

Coinbase Enters the Canadian Market With “Stand with Crypto”

With its layer-2 network Base gaining traction and the launch of the “Stand with Crypto” alliance, Coinbase also celebrates its official entry into Canada.

On Monday, August 14, Coinbase announced its official launch in Canada. According to the exchange, the Canada launch is part of its international expansion strategy that comes on the back of an Enhanced Pre-Registration Undertaking in March 2023.

To offer a seamless experience to its Canadian users, Coinbase has fully integrated Interac payment rails with leading banking and payment partners to allow users to seamlessly deposit and withdraw funds (CAD) to and from their Coinbase wallets through Interac e-transfers.

Direct bank transfers are also coming later this year. Furthermore, Canadian users can also enjoy Coinbase One with a complimentary 30-day trial featuring zero trading fees, enhanced staking rewards, and priority support.