In the USA it is lawfully possible to lobby the interests in the Congress. Already today giant companies in the cryptoexchange market have begun to do it.
Coinbase, Circle, DCG, PC, PL and some other had declared creation of the Blockchain Association in the capital of the USA. It will be located in Washington and represent the interests of businessmen and investors who are engaged into blockchain projects.
The purpose of association – influence on congressmen and politicians; promotion ideas in the industry of digital currencies; specifics explanation blockchain of technologies; lobbying of operations with digital money, leaving from services of banks. Also the group will closely cooperate with developers of policy on fight against money laundering in this sphere (AML) and KYC (Know Your Customer).
Christine Smith will become first lobbyist of cryptocurrency players. Previously she was USA senator’s adviser and already famous as Overstock blockchain lobbyist .
Circle’s head regulatory counsel and chief compliance officer, Bob Bench, said:
“As with early Internet innovators, blockchain firms need to partner with the government in order to effect this technology’s full potential. BA is a critical bridge for this partnership”.
The first task for BA – to solve situation with transfers taxes and work on improvement of policy of AML and KYC. The Coinbase company, namely the head of her legal department, Mike Lempres, claims that the association doesn’t intend to deceive or manipulate the authorities. The main point is to improve the legislative base of the cryptoforeign exchange market.
Blockchain Association not the first merging of the cryptocurrency companies which try to influence legislators of the USA. Not so long time ago PAC – Committee of political actions- which is urged to exert impact on legislative initiatives and to raise funds for politicians, has been created.
Blockchain Association is also focused on eradicating fraud in the crypto sector and continue to keep their eye on industry developments.