September 19, 2022

Coinbase added cryptocurrency policy assessment tools to the app

On September 14, Coinbase CEO Brian Armstrong announced new features for the branded app. Verified users of the platform will have access to information about the political background in terms of cryptocurrencies in the United States.

The ranking is based on data from the Crypto Action Network. The exchange uses the platform's metrics system to assess the political background in a particular state.

The system rates members of Congress based on their public actions and statements. "Two", it is positioned as "F" in the table, was given to those politicians who are extremely negative about cryptocurrencies.

In turn, supporters and adherents of the digital economy received an "A," that is, a "F." Subsequently, when the candidate from one state or another changes, the data will be updated.

The Coinbase app's new toolkit also allows users to stay up-to-date and participate in public votes on cryptocurrency regulation. According to Armstrong, this opens up new perspectives for the exchange's customers, especially for small businesses.

"Protecting crypto is critical to our mission to increase economic freedom in the world. And Coinbase will do everything it can to help that process. But the exchange is not the entire community. Hopefully, we can rally together and bring in leaders who take a sensible approach to governance," Armstrong noted.

One need only look at the situation around Tornado Cash to notice the differences among members of Congress. While some support sanctions, others have spoken out against banning the service.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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