Coinbase and Circle will create an American blockchain association

According to the Washington Post, several leading players in the US crypto market, including Coinbase and Circle, have teamed up to launch an advocacy campaign for the interests of cryptocurrency and blockchain companies.

Together with other companies, including Protocol Labs, Digital Currency Group and Polychain Capital, they will create the Blockchain Association, which will represent the interests of the crypto industry before legislators and regulators in the United States.

The founders of the new association will be Coinbase, one of the world's largest cryptocurrency exchanges, Circle, a provider of blockchain payment solutions, and Digital Currency Group, which owns various cryptocurrency platforms, including a cryptocurrency supplier payments Bitpay, as well as venture capital company Polychain and technology startup Protocol Labs.

“Blockchain Association is an attempt to unite leading companies in the market to cooperate with regulators. We are trying to help develop an effective legal and regulatory system,” said Mike Lempres, head of legal for the Coinbase exchange.

Kristin Smith, a former Overstock employee and assistant to a former Maine senator, will be responsible for the strategy and operation of the association.

Marvin Ammori, general counsel of Protocol Labs, and tech investor Josh Mendelson will also join the Blockchain Association as representatives of Politico, a US media organization in the field of political journalism. 

Blockchain Association is not the first project to promote cryptocurrencies. The Chamber of Digital Commerce was also created in 2014 to promote blockchain technology. Digital Currency Group is part of this organization.