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Blockchain Association Becomes First Crypto-Lobby in D.C.

In their first blog post on September 11th, the Blockchain Association announced their DC-based non-profit association that “will serve as the unified voice of the blockchain ecosystem.” This lobbying group is the first to work exclusively in the interest of representing and promoting blockchain technology in Washington.

There are a host of leading industry names who have attached themselves to this group such as Coinbase, Protocol Labs, Digital Currency Group, and Polychain Capital. The Washington Post notes the work of the groups first hire, Kristin Smith, who was a former aid to then-Sen. Olympia J. Snowe (R-Maine). Smith went on to lobby on behalf of Overstock.com and their blockchain related issues. Overstock is one of the few large online retailers to accept payments in various types of cryptocurrencies, including bitcoin.

The medium post outlines the most immediate goal of the association is to “engage directly with elected officials and regulators, create campaigns that engage the blockchain industry in our work, and build coalitions with other organizations to create a broader, coordinated community.”

While conceding that disagreements exist among the blockchain community, they also contend that many of the core beliefs and principles remain present. Ultimately, the association believes “It’s clear that we [the blockchain Industry] will only thrive if the blockchain ecosystem achieves its full potential, which requires regulatory clarity, policies that support the whole system rather than a handful of large organizations, and the protection and privacy of consumers.