US lobbyists to grow crypto industry

No one seems to believe in a new surge in the crypto market similar to the last year one. However, lobbyists, undeterred by investors’ somewhat pessimistic sentiment, are ready to promote the cryptocurrencies...

No one seems to believe in a new surge in the crypto market similar to the last year one. However, lobbyists, undeterred by investors’ somewhat pessimistic sentiment, are ready to promote the cryptocurrencies with the federal lawmakers and regulators.

On September 11, tech industry veterans and a number of high-profile crypto currency companies announced the birth of the Blockchain Association — the first full-fledged lobby group in Washington, D. C. to represent the interests of entrepreneurs and investors operating in the growing crypto industry.

Major investors Digital Currency Group and Polychain Capital are among the Associations’ founders. Big cryptocurrency startups Coinbase и Circle are also part of the group. The Association has already hired Christine Smith, a former lobbyist for Overstock.com internet store (the on-line store that started to accept bitcoin payments in 2014).

The Blockchain Association aims to become the leading crypto industry lobbying organisation in Washington, positioning itself as the voice of companies seeking to operate within the law in crypto industry without looking for ways to circumvent regulatory requirements.

One of the top priorities will be cryptocurrencies review in the framework of the US tax legislation.
By the way, this is not the first attempt by the lobby to act against Washington’s influence — 5 year ago the Bitcoin Foundation played a similar role. However, the company’s activities were much broader — the Bitcoin Foundation covered industries, consumers, acted as an analytical centre, a lobby group and a standard setting body.
It should be noted, that the emergence of a specialised lobby group speaks of the sector’s growing maturity.