DC doesn’t realize how powerful crypto voting is — Brian Armstrong

Coinbase CEO Brian Armstrong has shared his predictions about the role cryptocurrencies will play in next year's US elections, stating that representatives in Washington, DC do not fully understand the voting power of the crypto community in the next race.

"I don't think everyone in DC realizes how powerful the crypto voting community block is. And I think 2024 is an election where US voters are really going to hold their feet to the fire." candidates and say: what is your position on cryptocurrencies?”, Armstrong saying during a recent interview with Yahoo Finance.

According to Armstrong, approximately 56 million people in the United States have already used cryptocurrencies. “Five times more have electric vehicles, to give an example. And we are voters,” he noted. He believes that the gap between current crypto policies and American needs will make cryptocurrencies a hot topic in 2024.

In fact, presidential candidates are actively talking about cryptocurrencies. Florida Governor Ron DeSantis has promised to ban central bank digital currencies (CBDC) if he is elected president. Robert F. Kennedy Jr. is also opposed to exploring the concept of a digital dollar. Both Kennedy Jr. and DeSantis cited privacy concerns as reasons for their positions. The candidates, however, have adopted a crypto-friendly campaign strategy.

The White House likely home to a CBDC supporter, according to a recent report from crypto asset manager Grayscale. Leading in the 2024 presidential election between their respective parties, Joe Biden and Donald Trump are “favorable to exploring CBDC,” the analysis says.

Coinbase has been lobbying in Washington, D.C.. for a clear regulatory framework in the crypto space. Congress is now actively discussing bipartisan bills that could finally set rules for cryptocurrency companies and users across the country. But legislation is not the only option for cryptocurrency companies, Armstrong said, pointing to the possibility of a new chairman of the Securities and Exchange Commission (SEC) in 2024.

"I also think there's a chance we get a different president in 2024 or beyond," he suggested, referring to a possible replacement for Gary Gensler. was sued by the SEC in June for allegedly violating security laws, claiming that several tokens traded on the exchange were securities.

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