The cryptocurrency exchange aiming to influence American politics

Coinbase has formed a political action committee, with more and more looking to push the case for cryptocurrencies at upcoming American elections…

With America heading to midterm elections at the end of the year, and what promises to be a divisive Presidential election in 2020, one cryptocurrency exchange is determined to get its voice heard.

Coinbase is set to form its own political action committee (PAC), as it looks to beef up its influence, and the cryptocurrency cause, in Washington. Whilst the PAC is understood not to have yet raised money, that’s clearly the plan. Coinbase will be looking to gather funds, that can then be spent to back chosen candidates and causes come election time. It has not formally commented on its intentions at this point, though.

Still, it comes at a time when US legislators are hardly holding out welcoming arms to crypto. There are some areas of the USA that are friendlier to others, but at the top of the chain, President Donald Trump’s actions have been more on the discouraging side.

Separately, controversial cryptocurrency advocate John McAfee has announced he’ll be running for US President again in 2020, albeit with no eye at all on winning. Rather that he wants to advance the profile of crypto as a by-product of his campaign.

It’s early days for Coinbase’s own election intentions to be known. But as we hear more, we’ll let you know…

CNN Money