With more than 50 million Americans holding a digital asset, crypto is bigger than Coinbase. Today, with the launch of the , the crypto community will be unleashed as a core constituency in the legislative process. In particular, the Stand With Crypto Alliance will leverage the underlying technology of the blockchain to help organize the community into a powerful voice advocating for policies that will update our financial system and support economic empowerment. The Alliance is the nation’s first ever independent and onchain advocacy organization, powered by and for crypto supporters.
Building on recent historic, bipartisan legislative momentum in Congress, the Stand with Crypto Alliance is crypto’s first true grassroots movement that will be organized onchain. By providing a launch pad, the Alliance is mobilizing the full force of the decentralized crypto community to tell lawmakers: Recess is over. America’s crypto constituency is strong – and will be holding them accountable this fall when Congress votes on common-sense legislation to protect consumers and their right to crypto.
One thing is clear: the future of crypto in America is at risk. Nearly a quarter of American adults own crypto.¹ Yet for far too long, lawmakers have kicked the can on writing clear rules of the road – allowing unelected, uninformed regulators to reign unchecked, pursuing policies that are undermining U.S. economic security, and putting U.S. leadership in innovation at risk. The result is that America has lost thousands of jobs overseas and American consumers have been left unprotected. With more than a million new jobs at risk and the rest of the world, including China, embracing crypto policy, it is time for the U.S. to pursue a crypto forward policy approach.
The data is clear: regardless of region, background or political identification, the future of crypto matters to Americans.
87% of Americans believe that the financial system needs changes or a complete overhaul.²
Black and Hispanic adults are more optimistic than white adults that “cryptocurrency and blockchain are the future” than any other cohort.³
Crypto ownership is evenly split across party lines in key states:⁴
Ohio: 36% Democrat, 33% Republican, 10% Independent
Georgia: 40% Democrat, 37% Republican, 12% Independent
Montana: 32% Democrat, 42% Republican, 11% Independent
New Hampshire: 37% Democrat, 37% Republican, 15% Independent
Nevada: 38% Democrat, 38% Republican, 13% Independent
Crypto-owning voters in key states believe the financial system needs to change:⁵
Ohio: 82% of crypto investors believe the global economic system unfairly powerful interests.
Georgia: 72% of crypto investors believe that policymakers should support the new, innovative and disruptive technologies that are changing the world today.
New Hampshire: 70% of crypto investors believe cryptocurrency and blockchain technology can increase economic opportunities for Americans in a way that traditional finance can’t.
70% of young crypto investors believe that Cryptocurrency and blockchain technology can increase economic opportunities for Americans in a way that traditional finance can't.⁶
Grassroots advocates and organizations across the United States care about crypto and the fact that the U.S. is lagging behind the rest of the world in paving the way for this revolutionary technology. Previous Coinbase-supported advocacy initiatives have shown that Americans are not only eager to leverage crypto and blockchain technology but that advocacy can be an entry point to the onchain ecosystem. The inaugural Stand with Crypto shield was minted over 160,000 times – raising $215,000 for crypto advocacy organizations – and a pro-crypto garnered over 188,000 signatures.
The time to act is now. America is eager for innovation and change, and a path to improve the current financial system. The Stand with Crypto Alliance wants to help grow the crypto constituency – and the ask is simple. . In less than 60 seconds, you can help secure the future of crypto by signing up to join us and help drive clear, sensible regulation. Together, we can keep crypto in America.
Disclaimer: Information is provided for general educational purposes only and is not intended to constitute legal advice, investment advice or other advice on financial products. This blog contains links to third-party websites or other content for information purposes only. Third-party websites are not under the control of Coinbase, and Coinbase is not responsible for their contents. The inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site.
¹ Tracking Trends in Cryptocurrency, Morning Consult Apr 2023 ² Generational research, June 2023 ³ Cryptocurrency Perception Study, Morning Consult, Feb 2023 ⁴ State-level crypto owners survey, Q2 2023 ⁵ State-level crypto owners survey, Q2 2023 ⁶ Crypto investors under age 35 survey, Q2 2023
About Faryar Shirzad
Faryar Shirzad is the Chief Policy Officer at Coinbase, where he leads the company’s engagement with policymakers around the world. Before joining Coinbase, Faryar was Global Co-Head of Government Affairs at Goldman Sachs. He has also served in various roles in the U.S. government, including deputy national security advisor for international economic affairs for President George W. Bush. Faryar earned a JD from the University of Virginia School of Law, an MPP from the John F. Kennedy School of Government at Harvard, and a Bachelor of Science degree from the University of Maryland, College Park.
Dec 8, 2023
Dec 7, 2023