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Coinbase CEO Brian Armstrong has stated that US politicians moving towards anti-crypto policies would be a bad political strategy for the 2024 elections. Armstrong announced in a video posted on December 19 that US Senator Roger Marshall supports crypto regulations.
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Armstrong shared five reasons why he believes anti-crypto policies are a bad election strategy. Firstly, he emphasized that 52 million US citizens own cryptocurrency and 38% of young people believe that crypto can boost economic opportunities. Additionally, crypto prices have increased by 90% since the start of the year, yet only 9% of Americans are satisfied with the current financial system.
Armstrong pointed to the non-profit organization Stand With Crypto Alliance, which aims to reach one million supporters defending the crypto industry. However, it should be remembered that Armstrong did not mention the source of the data he referred to.
The Coinbase CEO reminded that the Digital Asset Anti-Money Laundering Act, which is the focus of anti-crypto legislation, aims to bring crypto technology in the US under strict banking regulations. As of December 2023, this bill has been supported by three members of the Banking Committee five senators. The Bank Policy Institute has approved the anti-crypto legislation proposed by Senator Elizabeth Warren.
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