Major Crypto Companies Form DC Lobbying Group

A number of blockchain funds, exchanges and startups plan to lobby Washington, D.C. lawmakers with the new Blockchain Association.

The Washington Post reported Tuesday that this new organization would focus on both education and legal changes as part of an effort to normalize relations between crypto startups and lawmakers. Coinbase, Circle, Digital Currency Group, Polychain Capital and Protocol Labs are among the association’s founding members.

One of the association’s first employees is former Senate aide and Overstock.com blockchain lobbyist named Kristin Smith. She told the Post that she would “guide” the organization as it starts out, saying, “I’ve been spending a lot of time doing a lot of the basic education work in this space … I’m excited to focus exclusively on these issues.”

Further, Politico reported that Protocol Labs general counsel Marvin Ammori and Hangar founder Josh Mendelsohn will advise the group.

Coinbase chief legal and risk officer Mike Lempres told the Washington Post that the organization would bring companies together to advocate for reasonable regulation, saying:

“The Blockchain Association is an effort to get the preeminent companies in the space together so [policymakers] know they’re hearing from companies that welcome regulation when it’s appropriate … We’re not companies looking to game the system, but trying to develop a legal and regulatory system that’ll stand the test of time.”

The Blockchain Association will specifically focus on tax law and how know-your-customer/anti-money laundering rules relate to crypto exchanges and startups, at least at the beginning, according to the report.

Coin Center’s executive director, Jerry Brito, told the Post that the think tank was “happy to see this organization stand up.

“It’s good to have more voices advocating for things we agree about,” regarding the cryptocurrency space, he said.


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Author: Nikhilesh De
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Coinsource Installs 20 Bitcoin ATM Machines Around Washington DC

Buying cryptocurrency has just become easier for all residents of the US capital, as the American bitcoin ATM network, Coinsource, has now expanded into the Washington DC metropolitan area. With this latest installment, the company now boasts of operating almost 200 machines across the US.

Crypto Capital

Coinsource, Texas-based bitcoin ATM network, has announced its first entry into the American capital. The company will install twenty machines across the District of Columbia and Maryland, saying it received significant demand from local users and merchants. The machines will be spread in convenient locations across the area, including a dozen in Washington DC, five in Baltimore, one in Towson, one in Oxon Hill, and one in Takoma Park.

Before this development, the city already had about five machines being serviced by five different operators. Additionally, several local restaurants, bookshops, and record shops have been accepting bitcoin as payment since last year.

“We are meeting Washington D.C. at an inflection point, where regulators are looking at the value and potential of decentralized currencies and blockchain technology,” said CEO of Coinsource Sheffield Clark. “All innovation over time has passed through our Nation’s Capital in one way or another, and we are happy to be now servicing Washington D.C. and the surrounding communities so that they can have easy access to buying and selling Bitcoin.”

Bitcoin Nation

The DC installation caps off a quarter of growth for the company after launching 10 machines in Rhode Island, New Hampshire, and Massachusetts in early February. Additionally, Coinsource introduced eight new machines in Denver, Colorado earlier this month. Coinsource currently has 182 machines across 18 American states, plus the District of Columbia.

CMO of Coinsource, Bobby Sharp, said, “We are expanding the Bitcoin ATM market further than it’s ever been in D.C., offering the lowest rates, exclusive remote enrollment and allowing for at-home account registration. This installment is especially significant to Coinsource, as the philosophy behind decentralized currency is and has always been about giving freedom back to the people. As a company I feel that we have been able to provide financial freedom to the underbanked and unbanked, and I am happy to bring our services to D.C.”


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Author: Avi Mizrahi
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