FTX launches crypto public education campaign
Digital asset exchange FTX has launched a web campaign to bring the public around on cryptocurrency, called "Get to Know Crypto."
Why it matters: Starting with the White House's executive order this spring, 2022 has become the year policymakers have moved beyond holding the odd hearing about the industry and actually started drafting laws. They are more likely to actually enact laws if they have informed voters.
Driving the news: "Get to Know Crypto" is both a simple website designed to explain some basics about blockchain technology and an embedded video (that's 1/3 ad for FTX).
- According to a spokesperson, it's an extension of a community education program announced last year.
Between the lines: While the world probably doesn't need another crypto explainer, "Get to Know Crypto" looks like it might be the leading edge of a broader education campaign by FTX to move the country toward enacting any sort of law or regulation.
- As of now, there's no crypto specific rules or laws, just the occasional enforcement action, usually out of the U.S. Securities and Exchange Commission.
- Visitors to the site who click "Learn more" get taken to FTX's policy page.
What they're saying: In a statement from FTX's policy chief, Mark Wetjen, the company expresses support for legislation on both the House and the Senate side, saying, "The U.S. urgently needs cryptocurrency legislation that puts American innovation, job creation, and economic opportunity back in the driver’s seat."
Details: Each piece of legislation named by the company seem to favor the Commodities Futures Trading Commission.
- The House has the Digital Commodities Exchange Act, which came out in April.
- The Senate has the the Responsible Financial Innovation Act, which came out in June.
- The Digital Commodities Consumer Protection act, which came out in August.
Our thought bubble: As far as explainers go for those truly interested in what crypt is? We've said before, you'll never understand crypto from videos and reading. You just have to try it (just like you can't learn to swim without swimming).