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 <p>Coinbase CEO Brian Armstrong aimed this week at Senators Elizabeth Warren and Roger Marshall over their efforts to increase regulation of the crypto industry.</p>
 <p>In a recent tweet, Armstrong referenced a video of Senator Marshall admitting that the American Bankers Association helped craft the Digital Asset Anti-Money Laundering Act, a bill viewed by many in crypto as an attempt to stifle innovation in the space.</p>
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    <p lang="en" dir="ltr">Senators Warren and Marshall now lobbying for big banks 🙃<br><br>Being anti-crypto is a really bad political strategy going into 2024<br><br>* 52m Americans have used crypto<br>* 38% of young people say crypto can increase economic opportunities<br>* just 9% of Americans satisfied with the… https://t.co/diawa3LOX5</p>
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    </div> — Brian Armstrong 🛡️ (@brian_armstrong) December 19, 2023
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 <h2 class="wp-block-heading" id="h-being-anti-crypto-is-a-bad-political-strategy">Being anti-crypto is a bad political strategy</h2>
 <p><strong>“Being anti-crypto is a really bad political strategy going into 2024,”</strong> the Coinbase CEO wrote, before highlighting statistics that show the growth and popularity of cryptocurrencies. He stated that 52 million Americans have used crypto, 38% of young people believe it can increase economic opportunities, and prices are up 90% year-to-date.</p>
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 <p><strong>Also read: Ripple Gains Approval for European Expansion from Irish Regulator</strong></p>
 <p>The Coinbase chief also promoted “Stand With Crypto,” an advocacy campaign aiming to garner 1 million supporters for “sensible” crypto regulation policies. The implication was that the efforts by Senators Warren and Marshall were motivated more by big banks seeking to squelch a threat to their business than sensible policy in the public’s interest.</p>
 <p>Armstrong has been an outspoken critic of the anti-crypto bill, which he argues imposes unreasonable reporting requirements on software developers and miners instead of targeting illegal activity.</p>
 <p>For her part, Senator Warren has raised alarms about the risks posed by stablecoins and decentralized finance.&nbsp;While Coinbase and other crypto firms seek regulation that enables further innovation, increased oversight of the industry now appears imminent amid high-profile failures like FTX.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-ceo-being-anti-crypto-is-a-bad-political-strategy-tbt74351.html">https://thebittimes.com/coinbase-ceo-being-anti-crypto-is-a-bad-political-strategy-tbt74351.html</a></p>

Coinbase CEO: Being Anti-Crypto is a Bad Political Strategy

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TheBitTimes

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