Coinbase (NASDAQ:COIN) Global Inc (NASDAQ: COIN) has launched a voter registration tool as part of a new initiative aimed at getting people to participate in cryptocurrency policy discussions across the country.
What Happened: In a blog post on Thursday, Coinbase’s chief policy officer, Faryar Shirzad, said that the initiative came in response to the community’s “strong interest” in understanding where public office candidates stand on important crypto issues.
“Today, more than ever, crypto and web3 are cemented as topics of public interest and the political debate,” said Shirzad.
“We don’t regularly talk about politics here at Coinbase, but we’ve always said that we will engage in the political process at moments when it relates to our mission of increasing economic freedom in the world. The 2022 U.S. midterms are one of those moments."
See Also: HOW DOES COINBASE MAKE MONEY?
Coinbase views the upcoming midterm elections as “the most important in crypto history” because the elected representatives will likely make key decisions about how crypto and blockchain are regulated.
In February, the cryptocurrency exchange registered the Coinbase Innovation PAC with the Federal Election Commission. Filings show that Coinbase has spent as much as $1.5 million on federal lobbying last year.
Price Action: COIN shares traded 0.59% lower after hours.
The crypto market saw a 0.73% increase to $1.04 trillion over the last 24 hours. Bitcoin (CRYPTO: BTC) was trading at $21,528 and Ethereum (CRYPTO: ETH) was trading at $1,681 at press time.
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