Coinbase Integrating Politician ‘Crypto Scorecard’ Into Its App After Banning Politics at Work

Coinbase has begun integrating a crypto scorecard that ranks members of congress in the U.S.-based on their stances on crypto. The data is taken from Crypto Action Network.

Coinbase has begun integrating a scorecard into its app that estimates the sentiment of various politicians on the crypto market. CEO Brian Armstrong posted a tweet on Sept. 15, showing how they were integrating their crypto policy efforts into the app. The objective is to educate users on the positions of politicians on crypto, based on where they live.

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.

— Brian Armstrong (@brian_armstrong) September 14, 2022

Currently, the feature focuses on the United States, though Coinbase plans to cover more regions. U.S. users can see a crypto sentiment score from members of congress based on the public statements that they have made. It also plans to help solicit donations from the community, with Armstrong saying,

“Over time, we want to help pro-crypto candidates solicit donations from the crypto community (in crypto). We’ll also expand to get more geographic coverage in global elections, and add data on various candidates running for office (not just current elected officials).”

The data itself comes from an organization that Coinbase has supported, called Crypto Action Network. Armstrong hopes that the crypto community can play its part in electing pro-crypto officials.

How the scorecard works

Preview of the scorecard: Crypto Action Network

The scorecard published by Crypto Action Network takes publicly available statements and actions to grade officials. The methodology used includes sponsored and/or co-sponsored legislation, positive or negative public statements, selected cryptocurrency votes, crypto-caucus membership, and more.

Coinbase has been active in trying to win officials over, whether by regulatory compliance or lobbying. Some individuals may worry about a bias creeping in, but that remains to be seen.

Coinbase and politics, a contentious topic

Coinbase, being so active in trying to get politicians on board with crypto, has had some somewhat controversial incidents regarding politics. The exchange notably banned discussions of politics and social causes at work. Some in the crypto community may see the introduction of a political crypto scorecard feature as questionable as a result.

However, Coinbase may argue that its scorecard is not the same, and it is in keeping with the mission-focused statements that it made in the original post. It’s clear that the exchange wants to win lawmakers over, and Armstrong has even said that it wants every company in the world in crypto.

The post Coinbase Integrating Politician ‘Crypto Scorecard’ Into Its App After Banning Politics at Work appeared first on BeInCrypto.

Related Posts

John McAfee is the Creator of Bitcoin: TikTok Influencer Makes Wild Claim. Or is it?

John McAfee is the creator of Bitcoin. This is the remarkable claim of a TikTok influencer who calls himself Harry the Soul Coach. He says, “John McAfee…

Covalent CEO: There’s an ‘unresolved backlog’ of unfilled Web3 data roles

The demand for on-chain analysts is set to further increase with Web3 data outgrowing Web2 data over the next 20-30 years, says Covalent’s Ganesh Swami. Ganesh Swami,…

The Dangerous Implications Of Central Bank Digital Currencies

There are a variety of reasons consumers should be wary of developments surrounding central bank digital currencies. Natalie Smolenski is a senior advisor at the Bitcoin Policy…

The SEC is bullying Kim Kardashian, and it could chill the influencer economy

The feds should have tried to work with Kardashian to establish more transparent norms for influencers rather than slapping her with a $1.26 million fine for promoting…

How Satoshi Nakamoto And Bitcoin Mirror The United States’ Founding Principles

The governance and origins of Bitcoin closely resemble those presented in the founding documents of the United States. This is an opinion editorial by Buck O Perley,…

Moët Hennessy USA files NFT & Metaverse Trademark Applications

One of the top leading beverage companies — Moët Hennessy, submitted not one but five NFT and metaverse trademark applications for the names “Moet,” “Moet & Chandon,”…

Generated by Feedzy