It was announced that several companies in cryptocurrency had formed a professional association, the Blockchain Association, to defend the interests of this sector. The group consists of exchanges, new business startups and blockchain funds. They hope to work on education and regulatory change. They want the relationship between new businesses and lawmakers to be more better. US Congress members are also involved in similar projects that will enable this new group of industries to flourish and benefit the economy.
Blockchain has become one of the fastest growing technologies in the world. Barely a decade passed with the invention of Blockchain, but the rapid maturation of this technology has had a significant impact on the digital world of this new era. Although Blockchain was born with the invention of Bitcoin (for its use and security), Blockchain does not end with Bitcoin; Grows with the growth of technology in different areas.
The Blockchain Association is comprised of industry leaders such as Coinbase, Protocol Labs technology, as well as the Digital Currency Group and Polychain Capital. The lobbying organization will be located in Washington, representing entrepreneurs and investors involved in projects promoted by blockchain.
The news of the launch of a partnership in Washington with the aim of developing strong regulation systems in the cryptocurrency spectrum follows the announcement made last July by Donald Trump to create a task force on cryptocurrency.
”Trump’s task force aims to fight cybercriminals by investigating blockchain and cryptocurrency crimes.”
The Blockchain Association will be responsible for representing the entire cryptocurrency industry in Washington DC, and key organizational approaches will be related to working with federal regulators to define future regulation. Adequate regulation is said to be one of the main reasons institutional investors have been reluctant to enter space, followed by an appropriate conservation solution. The Blockchain Association aims to become the leading lobbying organization in Washington in the cryptocurrency sector, exploring issues related to different digital counting policies. The group aims to be a voice for the main organizations that want to comply with the political system instead of avoiding it.
By consolidating their intentions, the Blockchain association already has its first contract appointee, Kristin Smith. Smith is supposed to lead the group during this early period. Smith has serious lobbying experience as an associate of former Senator Olympia J. Snowe and later lobbied for Overstock.com.
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