Washington: Several American blockchain funds,
cryptocurrency startups and exchanges have established the Blockchain
Association in order to lobby their interests among lawmakers in Washington, DC.
The newly formed association will concentrate
its attention on issues and trends in education, work out draft laws and
amendments, as well as dedicate its activity to normalize the existing
relationships between legislators and startups. It is worth mentioning that
there are such crypto companies as Coinbase, Circle, Polychain Capital, and
Protocol Labs listed as the association promoters.
Kristin Smith has become one of the first staff members of
the association due to her vast work experience in the Senate; she is also
known for lobbying Overstock.com. In an interview with The Washington Post, she
stated that she will be in charge of supervision of the association's
activities, as she paid much attention to education in lobbying. In essence,
she is going to fully commit herself to it.
The foundation of the Blockchain Association can be
considered an attempt to unite outstanding crypto companies in order to bring
relevant information to politicians, hence it will be easier to leverage the
regulation of the crypto sphere. The association intends to work out a legal
framework that will be able to stand the test of time, said Mike Lempres, the
Chief Legal and Compliance Officer at Coinbase.
At the initial phase of its work, the Blockchain Association
will pay close attention to the tax legislation and KYС/AML with relation to
crypto exchanges and blockchain startups.