Coinbase COIN CEO Brian Armstrong, on Monday, minted a commemorative NFT in response to regulatory challenges facing the U.S. cryptocurrency industry.
What Happened: According to a blog post by ‘Stand with Crypto,' the NFT is a symbol of unity for the crypto community seeking sensible crypto policy.
The NFT features a blue shield, representing a collective stand to protect and promote the potential of crypto. This is a purely commemorative NFT with an open mint and has no intended utility or value.
See More: Top Indian Apps That Give Bitcoin, NFT Rewards
This comes as Coinbase filed a petition in court to urge the Securities and Exchange Commission, or SEC, to provide clearer regulatory guidelines for the industry.
The petition includes 50 specific questions about the regulatory treatment of certain digital assets, including how tokens are classified as securities and guidelines for purchasing cryptocurrencies on SEC-regulated exchanges.
Read More: Bitcoin, Ethereum, Dogecoin Decline Prior To FOMC Meeting: Analyst Foresees Deja Vu, Expects Apex Crypto To Reach $30K Soon
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