Coinbase Taps Trump's Campaign Manager, Chris LaCivita To Tackle Crypto Policy In Washington

Coinbase COIN has announced the addition of Chris LaCivita, President Donald Trump's co-campaign manager in 2024, to its Global Advisory Council.

What Happened: This move is intended to strengthen the company’s position as it seeks to navigate the changing political landscape and influence future regulations.

It also signals a clear belief within the crypto industry that Trump’s administration will be more favorable towards the industry.

LaCivita will use his expertise and influence to help Coinbase as it works with the government to influence future regulations, according to Semafor.

Benzinga has reached out to Coinbase for a comment.

LaCivita stated that Trump “was very much into learning about as much of this as possible," and that "The president's made it perfectly clear he wants to be on the forefront."

Also joining Coinbase as a policy advisor is former Senator Kyrsten Sinema, who has previously advocated for crypto-friendly legislation.

Her appointment further demonstrates the industry’s efforts to maintain bi-partisan support for their interests.

This duo, representing different political spheres, underscores Coinbase’s commitment to shaping policy through diverse connections.

While neither LaCivita nor Sinema will be lobbying directly, they will be utilizing their knowledge of Washington to advocate for a more predictable, structured regulatory environment.

Also Read: Czech Central Bank Considering 5% Bitcoin Reserve

Why It Matters: The digital asset industry appears to be pushing for clear, legally binding laws instead of having to depend on the unpredictable political whims of the current White House administration.

Further joining Coinbase as advisors are former Federal Reserve Bank of New York President Bill Dudley and Former Inter-American Development Bank president Luis Alberto Moreno.

The company’s advisory team already consists of several former officials from both parties.

LaCivita also confirmed that he does not currently own any crypto, but that he will "of course" be investing soon.

The recent hires indicate that digital asset companies do not see the future of crypto as being a partisan issue.

“We need legislation so that consumers can feel confident that when they purchase or trade crypto, that they're doing so in a marketplace that is fair and that is regulated and that has oversight," Sinema said.

LaCivita also agreed on the need for clear regulation, saying that any framework should be "straightforward and understandable.”

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