Major Crypto Companies Form DC Lobbying Group

A number of blockchain funds, exchanges and startups plan to lobby Washington, D.C. lawmakers with the new Blockchain Association.

The Washington Post reported Tuesday that this new organization would focus on both education and legal changes as part of an effort to normalize relations between crypto startups and lawmakers.

Coinbase, Circle, Digital Currency Group, Polychain Capital and Protocol Labs are among the association's founding members.

One of the association's first employees is former Senate aide and Overstock.com blockchain lobbyist named Kristin Smith.

Further, Politico reported that Protocol Labs general counsel Marvin Ammori and Hangar founder Josh Mendelsohn will advise the group.

"The Blockchain Association is an effort to get the preeminent companies in the space together so 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."

The Blockchain Association will specifically focus on tax law and how know-your-customer/anti-money laundering rules relate to crypto exchanges and startups, at least at the beginning, according to the report.

"Coin Center's executive director, Jerry Brito, told the Post that the think tank was"happy to see this organization stand up.

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