Coinbase launched an NFT collection called “Stand with Crypto” as part of its efforts to create a more favorable regulatory environment for the cryptocurrency industry. However, not everyone is excited about the move, with some expressing uncertainty about its potential impact.
The “Stand with Crypto” campaign was initiated by Coinbase after it filed a lawsuit against the US Securities and Exchange Commission to compel a response to its regulatory petition. The NFTs are meant to symbolize the community’s commitment to advancing cryptocurrency’s potential and seeking “sensible crypto policy.”
While the campaign was intended to be a noble cause serving the interests of the crypto community, it received mixed responses. Some people were critical of the action, while others praised it and received their NFTs.
Crypto influencer Wendy O pointed out that the Digital Currency Traders Alliance had already pursued similar efforts for more crypto-friendly regulation before Coinbase. She urged the exchange to unite rather than be fragmented and fight for retail inclusion instead of exclusion.
