You do the math.
Everyone worried about regulations in the cryptosphere can put those fears to rest.
Coinbase is going to bat for everyone.
https://cointelegraph.com/news/coinbase-now-has-its-own-political-action-committee https://www.ccn.com/coinbase-forms-political-action-committee-amid-uncertain-regulatory-climate/
Coinbase has formed its own political action committee. It's about time that we used the system's own corrupt ways in our favor.
Political Action Committee: An organization that raises money privately to influence elections or legislation, especially at the federal level.
That's right! We now have professional lobbyists on the ground-floor making sure that everything goes our way.
Perhaps Coinbase did this to only serve their own interests. Perhaps they did this only because they think the investment/hedge is worth the money. Regardless, intent is irrelevant. Coinbase's actions will benefit every coin on the market.
... and so it could be useful to establish dialogue with politicians and support candidates with a “light touch” regulatory ideology.
Coinbase has been known to do business in a very by-the-book manner. Being based in America, their fear of being sued or shut down is at an all time high. We can likely expect that they won't do anything too crazy.
However, I think we have to assume that other organizations will follow suit and form their own groups with the intention of bending the law to crypto's favor. With privacy coins making new leaps and bounds we can pay off any politician behind closed doors without anyone ever knowing about it. Unlike a suitcase full of cash it can be transferred anywhere on the planet in less than ten minutes for a negligible fee and no one is going to ask where the money came from.
This is yet another one of the many examples where potentially acting selfishly in this cooperative economy still ends up helping everyone else anyway. It feels nice when the big broken machine starts working for you simply because you can buy your way in.
Return from Politicians Can Be Bought; Cryptocurrency Is Money to edicted's Web3 Blog
