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.
On 11th September the Washington Post reported 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 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.
Mike Lempers Coin base’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.”
Jerry Brito, executive director of the non-profit research and advocacy group Coin Center, reportedly said that the rise of a purpose-specific trade group shows the industry is maturing.