A group of U.S.-based blockchain and crypto companies have voiced their intention to establish the Blockchain Association, which is to become the “first” blockchain industry lobby group in Washington D.C.
Such industry leaders as Coinbase, Protocol Labs, Digital Currency Group and Polychain Capital have already joined the emerging association. The lobbying organization will reportedly be headquartered in Washington and tasked with representing entrepreneurs and investors involved with blockchain-based projects.
The Blockchain Association will represent mainstream crypto companies that look to operate within the political system, primarily addressing policy issues and the treatment of cryptocurrency by U.S. tax law.
“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,” – Mike Lempres, Coinbase’s Chief Legal and Risk Officer specified on the matter.
Back in July, the U.S.-based Coinbase cryptocurrency exchange created its own political action committee (PAC).