Coinbase CEO Takes Stand Against SEC In Favor Of Crypto Clarity
- Coinbase CEO backs ‘Stand with Crypto’ campaign after suing SEC for clarity.
- Brian Armstrong mints NFT shield of ‘Stand with Crypto’ campaign.
- Coinbase sues SEC, creates ‘Stand with Crypto’ campaign to support sensible crypto policy.
Coinbase CEO Brian Armstrong recently minted a Stand with Crypto NFT in response to the company’s lawsuit against the SEC, which aims to force a response to its July request for the U.S. regulator to draft a specific rule covering digital assets.
The NFT project aims to signal “unity for the crypto community seeking sensible crypto policy” and features a blue shield that represents a collective stand to protect and promote the potential of crypto. By minting the NFT, Armstrong shows his support for the cause, and he tweeted the image with the message “I just minted Stand with Crypto,” along with a link to a free NFT of the shield hosted on the Zora marketplace.
However, Armstrong has yet to take the second step recommended to show support for the project, which is to add a shield emoji next to his Twitter name. It is unclear whether Coinbase created the Stand with Crypto campaign or is independent of the company, and the exchange has not yet clarified its involvement.
Coinbase’s lawsuit against the SEC comes after the regulatory agency declined to create a separate crypto regulation, while reopening custody and exchange rules to explicitly say that they apply to digital assets. In addition to its lawsuit, Coinbase is also under investigation by the SEC, which has engaged in several enforcement actions against crypto firms.
Despite the uncertainty surrounding the Stand with Crypto campaign, the NFT’s blue shield symbolizes unity for the crypto community. By showing support for the project, individuals can demonstrate their belief in the future of crypto and their dedication to promoting sensible crypto policy.
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