A lobbying group in Washington has been put together for cryptocurrency purposes – and American tax laws are first in its sights…
A new collection of companies have come together to form a new blockchain and cryptocurrency industry body – and they’re set to start lobbying the American government.
The Blockchain Association is set to be the first exclusive lobbying group based in Washington D.C., whose aim is to represent those in the cryptocurrency industry.
Founder members of the group, as per a report in the Washington Post, have been confirmed to include Coinbase, Circle, Protocol Labs, Digital Currency Group and Polychain Capital. That covers technology companies, cryptocurrency exchanges and investors.
The Association has already confirmed its first recruits, too. Kristin Smith is a former Congress staff member and Republican lobbyist, and she’s signed up for a new role. Protocol Labs’ Marvin Ammori, meanwhile, is also taking a position, as is Josh Mendelsohn, the founder of public sector technology company Hangar.
The formal unveiling of the Blockchain Association is set to take place later in the week, when more details about it, and its specific aims, will likely be known. It arrives at a fractious point for US politics, too, with crucial midterm elections taking place in November, that will be the first full test of just how well Donald Trump’s Presidency is going down with American voters.
It’s believed that early on the Association’s agenda will be looking at how cryptocurrency fares under American tax laws, and also looking into anti-money laundering guidelines as well. More news on the Association as we get it…