A lobby for cryptocurrencies and blockchain was founded in Washington DC. The group, which brings together representatives from blockchain companies such as Coinbase and Circle wants to advise lawmakers and regulators in particular. An important step for the adaptation of Bitcoin and Blockchain technology.
Bitcoin, blockchain and regulation have still not quite come together. The best example is the EU. In the meantime, it is agreed that regulation at European level makes sense. A solution is not in coming soon. Although ICO and cryptocurrencies are now recognized as growth markets, they obviously need a bit of advice yet. To accelerate such processes and help governments to regulate more meaningfully, help from the United States may soon come.
Because there is now a lobby group for Bitcoin, Blockchain and the whole ecosystem. As the Washington Post reports, the group includes companies such as Coinbase and Circle as well as the Startup Protocol Labs. In addition, investors such as Digital Currency Group and Polychain Capital are involved.
As the Washington Post further reports, the Blockchain Association plans to become the leading lobby organization for the cryptocurrency industry in Washington for political issues. It also wants to present itself as a voice for mainstream companies that want to work within the political system rather than circumvent it.
First priorities include handling cryptocurrencies under US tax law and explaining the application of anti money laundering and know-your-customer policies to the industry.