Coinbase, the second-largest cryptocurrency exchange platform, has created a new crypto native think tank to help shape the global conversation around policies for digital assets.
This new think tank will publish original research to shape policies around crypto and feature an advisory board of finance and law academics from U.S. universities. It will also publish research on crypto web3.
Coinbase has chosen Hermine Wong to head the Institute as the policy director. She initially served in the Division of Economic and Risk Analysis at the United States Securities and Exchange Commission (SEC) and worked at the Department of State before that.
University of Michigan partners with Coinbase
A related Coinbase institute has been formed to feature law and finance academics in top universities in partnership with the University of Michigan.
The University of Michigan has conducted surveys for the U.S. Census Bureau and the Department of Defense. It will partner with Coinbase on an annual U.S.-based survey measuring the adoption of cryptocurrencies and sentiment towards digital assets.
The Institute has published a series of “Coinbase Primers”, which explain issues in crypto. It released a “Crypto and Climate” report on the 19th of May to facilitate the high energy usage of blockchains. The first monthly insight report in crypto markets has compared market movement in crypto and traditional finance.
The Institute marks another instance of Coinbase aiming at influencing the conversation around cryptocurrencies. The CEO Brian Armstrong launched a “fact-checking portal” in May 2021 to combat misinformation and mischaracterizations about Coinbase or crypto being shared in the world.
Global financial regulators discuss crypto at G7
The crypto exchange created a political action committee in February 2022 before the November midterm elections, spending over $1.3 million in lobbying. Coinbase broke away from the crypto industry’s largest lobbying group, the Blockchain Association, in August 2020, which protested against the admittance of Binance.
The company then formed the Crypto Council for Innovation in April 2021, along with Jack Dorsey’s Square and crypto investment firm Paradigm, to engage government regulatory agencies and policymakers on crypto regulation.
The Institute’s next move will be to publish more original research, which will provide the public with a better understanding of crypto’s diversity and interconnection to the overall economy.
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