Coinbase is the largest cryptocurrency in the United States, operating since 2012. The company lets users buy, sell, and store crypto assets like bitcoin, Ethereum, etc.
Coinbase has always been very transparent with its consumers. Unlike its competitors, it is a safe harbor for crypto asset exchanges with no track record of being hacked. Thus, intending to increase transparency further, Coinbase has recently decided to integrate information regarding various crypto policies into its application.
It will help expose different local politicians’ views on a crypto policy. The company will collect the data compiled by the Crypto Action Network, an organization committed to promoting the growth and security of cryptocurrency. The company also plans to get more coverage geographically and add proper data to candidates who will run for office profiles.
- It will help the users to find all the required information about the politician’s stances on various crypto-policies.
- It will have a scoreboard that will include the congress members’ names, political parties, districts, and grades for their “crypto sentiment.” Crypto Action Network created this scoreboard.
- The grades will range from A to F, with A meaning “very positive” and F implying “very negative.”
Will This Help the Consumers
The Crypto Action Network will help keep track of the various statements made by politicians. It will help to track the actions taken toward any crypto policy.
This new function will help the users keep up with local town hall events related to cryptocurrencies or policies. It further aims to help the pro-crypto politicians to get crypto donations through their app from verified Coinbase users.
Coinbase Promises Greater Transparency
Its co-founder and current CEO, Brian Armstrong, has said that its company’s mission is to make the world more economically free. With this goal in mind, Coinbase has also taken various such initiatives.
It had rolled out the Voter Registration and Education Initiative, a crypto policy initiative aiming to provide users with the necessary resources to get themselves involved in crypto policy discussions.
With this new feature, Coinbase says that the users can very easily get access to learn how different legislatures are thinking about various digital assets. This will eventually help the users make better decisions regarding investment in crypto assets.