Within cryptocurrency exchanges Coinbase formed a political action Committee (PAC). Such committees provide support political candidates, legislative initiatives, and collect money on behalf of individuals running for public office.
According to documents released by the Federal election Commission USA, a division of the “Coinbase, Inc. Political Action Committee” formed in June of this year, but not yet in the process of securing and implementation of donations. As follows from available official sources, Coinbase has not yet been attached to any candidate.
Director of public relations Coinbase Caters Elliot (Elliot Suthers) has confirmed the opening of the exchange, PAC, although refused to provide any additional information.
The political Committee Coinbase is probably the first official PAC related cryptocurrency industry. As CNN reports, the exchange has donated over $81 000 for political purposes, supporting a Congressional candidate and former Advisor of the Department of science and technology policy under President Barack Obama, Bryan Ford (Brian Forde), and Republicans Justin Amash (Justin Amash) and Josh Mandel (Josh Mandel).
We will remind, on July 16, the Coinbase representative told Bloomberg that the company has received approval from the SEC and FINRA for the purchase of three brokerage firms – Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC. These acquisitions are part of a plan of exchange by the license of broker-dealer and permit the listing of security tokens. However, already next day a press-the Secretary Coinbase Rachel Horwitz (Rachael Horwitz) said that the company had not received the approval of regulators.