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A number of blockchain funds, scholarships and startups intend to put pressure on lawmakers in Washington, DC with the new Blockchain Association.
The Washington Post reported Tuesday that the new organization will focus on education and legal changes as part of an effort to normalize the relationship between cryptographic startups and lawmakers. Coinbase, Circle, Digital Currency Group, Polychain Capital and Protocol Labs are among the founding members of the association.
One of the first employees of the association is former Senate counselor and lobbyist for Overstock.com, Kristin Smith. She told the Post that she was going to "guide" the organization at first, saying, "I've spent a lot of time doing basic education in this space .. I am delighted to focus exclusively on these issues. "
In addition, Politico said Protocol Labs general counsel Marvin Ammori and Hangar founder Josh Mendelsohn would advise the group.
Mike Lempres, Legal and Risk Officer at Coinbase, told the Washington Post that the organization would bring business together to advocate for reasonable regulation by stating:
"The Blockchain Association is an effort to bring together the most prestigious companies in space [policymakers] Know that they've heard from companies who welcome the regulation when it's appropriate … We're not companies looking to play the system, but are trying to develop a legal and regulatory system that will withstand the ## 147 ## The test of time. "
The Blockchain Association will focus specifically on tax law and how the rules of customer awareness and anti-money laundering relate to cryptographic exchanges and startups, at least initially, according to The report.
The executive director of Coin Center, Jerry Brito, told the Post that the think tank was "happy to see this organization get up.
"It's good to have more voices advocating for things we agree on," he said.
Capitol Hill image via Shutterstock
Leader in blockchain news, CoinDesk is a media that aims for the highest standards of journalism and adheres to a strict set of editorial rules. CoinDesk is an independent subsidiary of Digital Currency Group, which invests in cryptocurrency and blockchain start-ups.
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