A group of US-based blockchain and crypto companies have announced earlier this week that they’ll be forming a new group called the Blockchain Association, which is the first lobbying group representing the blockchain industry. It’ll be formed in Washington D.C.
The Blockchain Association is made up of industry leaders and exchanges like Coinbase, Protocol Labs, and Digital Currency Group and Polychain Capital. The organization will be located in Washington and represents entrepreneurs, investors, and others who are engaged in blockchain projects.
The lobbying organization will be the face of mainstream companies that are looking to work the political system by addressing policy issues and the government of cryptocurrencies as a whole. They’ll also be working with lawmakers on anti-money laundering and Know Your Customer policy development within the industry. Coinbase Chief Legal and Risk Officer says:
“The Blockchain Association is an effort to get the preeminent companies in the space together so [policymakers] know they’re hearing from companies that welcome regulation when it’s appropriate. We’re not companies looking to game the system, but trying to develop a legal and regulatory system that’ll stand the test of time.”
Jerry Brito, executive director of Coin Center, says that the rise of a purpose-specific trade organization shows that the industry is maturing as a whole. Coinbase has created its own political action committee to raise funds to spend on US elections, with contributions from members with similar policy and goals.
Analytical. Paranoid. OCD. Interested in the world of crypto and how it affects our current world and future. New to investing, not so new to know how crypto works and influence the world of fiat currency. Blockchain is my second wife.
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