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Coinbase – stand with crypto
Digital assets platform Coinbase, which is currently embroiled in a dispute (or three) with the Securities and Exchange Commission (SEC), is planning on a national campaign to defend itself. Politico reports, “The push includes: four FTN (Face The Nation) spots featuring Coinbase CEO Brian Armstrong, a blanketing of advertising on Wall Street, a New York ‘State of Crypto’ summit in June and a national ‘Stand with Crypto’ day in Washington July 19.” Read a bit more.
Coinbase – political impact
The Coinbase blog provides a clip of what’s to come as well as more details on the “Stand with Crypto” day in DC in July. See the post.
If Coinbase is successful with this marketing campaign beyond the beltway and with even a small part of the electorate, this could be of concern to Democrats in the lead-up to the general election in November 2024. Dems have largely embraced an anti-crypto position and seem to see it as a winning view as they seek to return President Biden to the White House for his second term.
Given the recently-developed partisan divide around digital assets, Coinbase’s public relations push in some ways is the equivalent of Republican campaign funding. Coinbase will no doubt try and align with pro-crypto Dems in an effort to diffuse a partisan “look.”
The just-concluded Bitcoin conference in Miami still captured the throngs, but not to the degree of last year’s event reports the Wall Street Journal. Politics swirled as well: “This year’s conference remained upbeat. Dark lighting and techno music gave the main stage the feeling of being in a Miami nightclub. A speech from [Democratic] presidential hopeful Robert F. Kennedy Jr. drew a standing-room-only crowd.” Read more. And, read Decrypt’s coverage for Kennedy’s speech.
In an op-ed on CoinDesk, Rain Cards’ general counsel Chris Grieco denounces the Digital Asset Anti-Money Laundering bill introduced by Senator Warren (D, MA) and co-sponsored by Senator Roger Marshall (R, KS) last December, but at the same time sees national security concerns ahead as privacy is addressed on the blockchain. He writes, “Law enforcement’s posture is likely to change in the near future as private blockchains make tracking and tracing near impossible. Blockchain technologies are evolving and as more use cases emerge the need for financial privacy on the blockchain continues to grow.” Read more.
use case – exercise game
“We have successfully integrated Apple Pay into our platform, becoming the first-ever blockchain gaming app to achieve this feat,” announced StepN, a Web3 exercise gaming app in a Medium post. For the first time in an Apple-controlled iOS app, users will be able to buy, sell and trade NFTs (non-fungible tokens) in the app rather than undertaking the more laborious process of using a crypto wallet and external marketplace. Crypto payments and traditional payments meet at a new important intersection: Apple.
The StepN whitepaper for the Australia-based company explains more about the overall goal of the app: “Users equip themselves with NFTs in the form of Sneakers. By walking, jogging, or running outdoors, users will earn game currency, which can either be used in-game, or cashed out for profit.” Read the whitepaper.
Stepn’s Chief Operating Officer Shiti Manghani tells The Block, “It is a very, very big step. (…) Nothing like this has been done before. Internally we’re saying this is the biggest thing happening in crypto and not that many people know about it.” Read it.
Today and May 24, White Collar Crime Institute – New York, NY – Register
May 24-25, The Future of Money, Governance, & The Law – Washington, D.C. – Register
Thursday, May 25, 8:15 a.m. ET – SEC Chair Gary Gensler at Investment Company Institute’s 2023 Leadership Summit – Washington, D.C. – Register
Wednesday, May 31, 8 a.m. – Axios’ News Shapers with Senator Tim Scott (R) – Washington, D.C. – Register
Tuesday, June 13 – House Financial Services Markup for Stablecoin legislation – Washington, D.C. – reported on May 22 by Politico
Wednesday, July 19 – Stand With Crypto – Washington, D.C. – See Coinbase blog
Congressional Calendar 2023 – Roll Call
still more tips
Huobi Global ordered to halt operations in Malaysia – Cointelegraph
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