Categories: Market Overview

Crypto Industry Leaders Establish Washington-Based Lobby Group

A group of U.S.-based blockchain and crypto companies have announced they will form the Blockchain Association, the “first” lobbying group representing the blockchain industry in Washington D.C., the Washington Post reported September 11. The Blockchain Association is comprised of industry leaders such as crypto exchange Coinbase, technology startup Protocol Labs, as well as the Digital Currency Group and Polychain Capital. The lobbying organization will reportedly be located in Washington, representing entrepreneurs and investors who are engaged in blockchain-powered projects.

The Blockchain Association will represent mainstream companies that look to operate within the political system, primarily addressing policy issues and the treatment of cryptocurrency by U.S. tax law. At the same time, the group will work closely with lawmakers on anti-money laundering (AML) and Know Your Customer (KYC) policy development within the industry. Mike Lempres, Coinbase’s Chief Legal and Risk Officer, further explained: “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.”

In July, Coinbase created its own political action committee (PAC) to raise money to spend on U.S. elections. In the U.S., PACs are organizations that pool campaign contributions from members with similar policy and political goals and subsequently donate them to political campaigns for or against candidates, legislation, or ballot initiatives.

Crypto Industry Leaders Establish Washington-Based Lobby Group, CoinTelegraph, Sep 12
The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team
Tags: aud

Recent Posts

FTSE 100 Wave Analysis – 17 March 2025

FTSE 100: ⬆️ Buy - FTSE 100 reversed from key support level 8425.00 - Likely…

13 hours ago

Alibaba Wave Analysis – 17 March 2025

Alibaba: ⬆️ Buy - Alibaba broke the key resistance level 145.00 - Likely to rise…

13 hours ago

EURNZD Wave Analysis – 17 March 2025

EURNZD: ⬇️ Sell - EURNZD reversed from long-term resistance level 1.9160 - Likely to fall…

17 hours ago

AUDUSD Wave Analysis – 17 March 2025

AUDUSD: ⬆️ Buy - AUDUSD broke resistance level 0.6350 - Likely to rise to resistance…

17 hours ago

Weak US retail sales might boost stocks

Weak US retail sales are adding to concerns of a potential recession, putting pressure on…

19 hours ago

Dow Jones: Rebound or Rally? The Fed Holds the Key

The Dow Jones rebound depends on the Federal Reserve's monetary policy and incoming data. It…

20 hours ago

This website uses cookies