Coinbase CEO Leads Global Crypto Advocacy Campaign, Targets Australia, UK, Canada

Coinbase CEO Brian Armstrong is leading a global advocacy campaign to promote crypto-friendly legislation, with a focus on Australia, the UK, and Canada. The "Stand With Crypto" initiative, backed by $206.8 million in donations and supported by over 2.1 million advocates worldwide, aims to engage citizens in these regions to influence lawmakers in favor of digital asset policies.

In Australia, the campaign is particularly active as the government nears finalizing cryptocurrency regulations. With 20% of Australians owning digital assets, the campaign emphasizes the importance of public support to encourage lawmakers to draft favorable legislation. The group has called on Australians to directly communicate with their elected officials, using visuals that symbolize defense for the local crypto ecosystem.

Armstrong has highlighted the significance of crypto users as a large "voting block" that can shape legislative outcomes. He believes that organized efforts can drive blockchain innovation and has urged the U.S. to pass specific stablecoin laws allowing "onchain interest." This concept would enable people to earn yield on fiat-backed stablecoins through reserve assets such as short-term U.S. Treasuries, addressing the current regulatory uncertainty for stablecoin issuers.

Meanwhile, the U.S. stablecoin policy debate is advancing with the GENIUS Act, which has been updated to exclude interest-bearing assets from the definition of a "payment stablecoin." This move aims to clarify the regulatory framework for stablecoins, with both the GENIUS Act and the STABLE Act expected to be harmonized through further drafting work in the House and Senate.

Armstrong's dual-front approach—advocating for global crypto users and pushing for U.S. stablecoin regulations—reflects the evolving landscape of digital asset policy. As regulatory shifts continue, the "Stand With Crypto" campaign seeks to mobilize a global community of advocates to influence policy in favor of blockchain innovation.