Cryptocurrency exchange Coinbase launches an app to check cryptocurrency-friendly politicians

Users of the Coinbase cryptocurrency exchange will be able to see which US politicians are «cryptocurrency friendly» using a new tool in the crypto exchange’s app. The announcement was made by CEO Brian Armstrong on Twitter:

1/ Starting today, Coinbase will begin integrating our crypto policy efforts right into our app. These will help our 103M verified users get educated on the crypto positions held by political leaders where they live. pic.twitter.com/3GqWZIioZQ

— Brian Armstrong (@brian_armstrong) September 14, 2022

The tool shows how different members of Congress rate their «cryptocurrency sentiment,» which can range from «very positive» to «very negative.» The app’s scores are based in part on data from the Crypto Action Network, which analyzes members of Congress from their media statements, legislative records, statements about cryptocurrency sponsorship, and more.

«Cryptocurrency advocacy is very important to our mission of increasing economic freedom in the world,» Armstrong wrote, «But the crypto community is much bigger than Coinbase — I hope we can all come together to engage elected leaders and pass smart policies.»

This is not the first time that cryptocurrency companies have sought to influence American politics. A number of firms that are members of the Blockchain Association lobbying group have created a special political committee, BA PAC. It will be used to raise funds and finance candidates in the US Congressional elections. In total, the association has more than 100 cryptocurrency market players.

Last week, U.S. Congressman and well-known cryptocurrency skeptic Brad Sherman said that significant political sponsorship and strong lobbying of cryptocurrencies make it impossible to ban digital assets completely. «We didn’t ban cryptocurrencies at first because we didn’t realize how important it was. We are not banning them now because there is too much money and power behind the regulatory policy ,» the politician said.