A group of several Washington-based blockchain funds, exchanges and startups recently decided to form a Blockchain Association – as a way that would lobby Washington DC’s lawmakers.
According to the Washington Post, the new organization would focus on both education and legal charges as part of a major effort to normalize the relations between crypto startups and lawmakers.
Some of the companies that joined this new body include Coinbase, Circle, Digital Currency Group, Polychain Capital and Protocol Labs – all of which are founding members of the association.
One of the first employees in the organization is a major blockchain lobbyist named Kristin Smith. As she told Washington Post, she would “guide the organization”, stating that she has a lot of experience with education work in this space. Smith also said that she is “excited to focus exclusively on these issues.”
According to another report by Politico, the general counsel of Protocol Labs, Marvin Ammori and Hangar Founder Josh Mendelsohn will also advise the group. The chief legal and risk officer at Coinbase, Mike Lempres, told Washington Post that the organization would bring companies together to advocate for reasonable regulation. As he stated:
“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.”
As the current information stats, the Blockchain Association will focus on tax law and how know-your-customer/anti-money laundering rules relate to crypto exchanges and startups, at least in the beginning – according to the report.
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