Crypto leaders form US-based Blockchain Association

A group of US-based cryptocurrency companies have formed the Blockchain Association, a non-profit lobbying group that will represent the blockchain industry in Washington, D.C.

The association’s inaugural members include projects and exchanges such as Coinbase, Protocol Labs and Circle, and investors such as Digital Currency Group and Polychain Capital. Its objective is to “create a pro-innovation environment for the industry, meeting the growing global demand for accessible, transparent and democratic financial and technical systems.”

To that end, it will try to foster collaboration between the community and industry leaders, educate policymakers and the public on the benefits of blockchain and related technologies, and advocate for public policy that cultivates and enables innovation. “The Blockchain Association unites the projects, investors, exchanges and foundations who will work together to advance the future of the entire ecosystem,” the association says.

Regulation required

The group believes the industry will only thrive if there is regulatory clarity, policies that support the whole system rather than a handful of large organisations, and the protection and privacy of consumers. “The unique characteristics of the token economy require an evolved environment that supports our members as they build more inclusive, efficient, and distributed financial systems, and more decentralised web applications,” it says.

Coin Center, a crypto-focused advocacy centre which advised the Blockchain Association, has welcomed the group’s launch, saying more voices aimed at educating policymakers about open blockchain technology is always a good thing and there are certain issues that only industry can address.

“Developing industry best practices that members can agree to abide is the kind of thing that an industry group can do – and it is needed,” says Coin Center Executive Director Jerry Brito.