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Crypto Companies Form Trade Bloc

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A group of companies in the blockchain and cryptocurrency sectors have formed a trade bloc to lobby Federal lawmakers for reasonable regulation that helps the growth of the industry.

"The Blockchain Association" identifies itself as a unified voice of the global blockchain ecosystem that has billions of dollars of invested capital.

The Washington, DC-based non-profit trade association said 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 do that, we'll 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 and improves lives."

Members range from technology organizations to venture capital groups to new startups. It is also a common platform for crypto, blockchain projects, investors, exchanges and foundations.

The pioneer members include industry-leading projects and exchanges, such as Coinbase, Protocol Labs and Circle, and investors such as Digital Currency Group and Polychain Capital.

In the United States, federal regulators and Congress are looking at consumer protection, regulation of token offerings and secondary token trading, anti-money laundering and know your customer laws, money transmitter licensing, taxation, and user privacy. The Blockchain Association said it will be a liaison to policymakers.

Former Senate aide and Overstock.com blockchain lobbyist Kristin Smith would reportedly "guide" the organization, and Protocol Labs general counsel Marvin Ammori and Hangar founder Josh Mendelsohn will advise the group.

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