Coinbase Backs U.S. Crypto Regulation Bill

Coinbase, in collaboration with a group of digital asset organizations and companies, is backing a bill intended to establish a regulatory framework for digital assets in the U.S. The bill is viewed as a method to provide regulatory clarity for the digital assets industry, which currently lacks clear guidelines.

In response to a regulatory crackdown on the crypto industry, companies such as Coinbase Global are investing in this year's elections. The objective of this investment is to sway the outcome and elect political allies.