Coinbase launches campaign to drive crypto legislation in the US

Coinbase ad campaign calls for crypto users to contact their Congress members to support national legislation

article-image

rafapress/Shutterstock modified by Blockworks

share

Coinbase initiated a campaign encouraging crypto users to get in touch with their Congressional representatives to advocate for cryptocurrency-related legislation.

The exchange, a proponent of well-defined regulations for the cryptocurrency sector, stated that its paid media initiative will encompass digital and outdoor advertisements in Washington D.C.

Its campaign will pay special attention to nine states where there are a significant number of crypto owners, including Arizona, California, Georgia, Illinois, New Hampshire, Nevada, Ohio, Pennsylvania and Wisconsin, according to a blog released Tuesday.

It will include in-person initiatives, such as placing full-time field organizers in these key states.

The crypto exchange is hosting an event on Sept. 27, bringing together innovators, entrepreneurs and developers from across the US who will travel to Washington D.C., to engage in public advocacy with members of Congress and government officials.

“They will explain how crypto is creating jobs and economic activity in their home states — and just how important it is for the US not to pursue an enforcement only approach that is driving jobs, innovation, and leadership out of the US,” Coinbase said. 

“Each of these crypto public advocates has made the decision to stay in the US and use the underlying technology of the blockchain to update our financial system.”

Two congressional committees have already approved a bill that provides clarity on the classification of digital assets, determining whether they should be categorized as securities or commodities. 

The industry is pushing for this bill to advance to a full vote in the U.S. House of Representatives.

In the blog, Coinbase estimates that there are about 52 million people who own crypto in the US, equating to roughly 1 in 5 adults.

Despite substantial cryptocurrency industry lobbying efforts in the US last year, many feel that lawmakers and regulators have not done enough to establish a comprehensive framework for digital assets.

Coinbase increased its cryptocurrency lobbying budget to nearly $3.4 million in 2022, from around $1.5 million spent on similar efforts the prior year.

Separately, Coinbase sued the US Securities and Exchange Commission in April in an attempt to compel the securities watchdog to offer regulatory clarity for the industry.

The exchange is also facing federal charges from the regulator, accusing it of functioning as an unregistered securities exchange and failing to register its crypto staking-as-a-service program.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

REPORT_Template.png

Research

The Sonic blockchain is leveraging redesigned airdrop incentives and its FeeM program to propel DeFi activity and attract institutional capital, setting the stage for ecosystem growth. Within this environment, leading protocols Shadow Exchange and Silo are poised to asymmetrically benefit due to innovative features and favorable valuations, despite facing ecosystem dependency and competitive pressures. This positions them as compelling, potentially shorter-term, investment opportunities contingent on Sonic's sustained success.

article-image

Bitcoin needs a price, but its magic runs deeper

article-image

Circle had a pretty successful first day of trading, but what’s next for the stablecoin issuer?

article-image

Solana’s USDC caught a boost after being paired with the TRUMP memecoin

article-image

The stablecoin issuer’s successful first day of trading is likely to spur more crypto IPOs, industry watchers say

article-image

Job openings rallied and continuing claims stalled ahead of May’s employment report

article-image

A group of Twitch streamers battle for bitcoin. Will their chats help them?