Coinbase CEO Brian Armstrong has highlighted that American voters are increasingly prioritizing a candidate’s stance on cryptocurrency when making voting decisions.
“Are you going to be a continuation of these existing policies that have been unnecessarily hostile, or are you going to allow this technology to flourish and ensure America’s leadership as a technology hub?” Armstrong stated in a recent interview.
Brian Armstrong Believes Crypto Will Be A Top Priority
Armstrong also emphasized that United States politicians fail to grasp the extent of crypto’s influence.
“I don’t think everybody in DC actually fully realizes how powerful the crypto voting block is. And I think 2024 is an election where the voters of America are really going to hold candidates feet to the fire and say, what is your position on crypto?”
Armstrong hesitated to endorse or reveal who he would be voting for.
However, he hinted that those currently in contention are the ones discussing crypto. “As far as I can tell, all of their comments have been positive,” Armstrong added.
He declares that pro-crypto politicians view it as a chance to contest Biden’s policies. These policies have stirred mixed reactions within the crypto community. “I think this could become a hot topic in the presidential race in 2024,” Armstrong predicts.
In recent news, Chris Larsen, co-founder of Ripple, has voiced his criticism of the US President, Joe Biden, for his position on crypto.
Larsen contends that the President’s stance is detrimental to the nation’s innovation progress. He further argues that the US has lagged behind in the global blockchain industry.
Armstrong Gives His Approval to Stablecoins
Armstrong also discussed stablecoins, expressing his belief that they represent a significant advancement for the global financial system.
He declares that it is the most important technology out there to update the financial system. “We’ve seen that 67% of Americans think that the financial system is in need of a major update,” Armstrong explains.
He argues that it will not diminish the appeal of other cryptos:
“We’re going to have decentralized cryptocurrencies like Bitcoin. We’re going to have things like Ethereum that are building new application platforms on top that are totally decentralized. But if we need to get people– sometimes you have to meet people where they are.”
Armstrong reaffirms that it allows the US dollar to continue operating within the crypto ecosystem, contributing to global economic efficiency. “So these things are all going to help the crypto ecosystem grow and get to that decentralized vision.”
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