U.S. Crypto Advocacy Groups Multiply Amid Growing Legislative Interest
Washington, D.C. is witnessing increased interest from the crypto industry, with over a dozen advocacy groups like the Digital Chamber and Blockchain Association actively attempting to influence digital asset policies in the U.S.
Key developments include:
- A crowded field of pro-crypto groups aims for favorable legislation from Congress and the Trump administration.
- Current legislative efforts focus on defining crypto market boundaries, regulating stablecoin issuers, and creating government digital reserves.
- New organizations, such as the Solana Policy Institute and National Cryptocurrency Association, have emerged, adding to the competitive landscape.
- Cody Carbone leads the Digital Chamber amid a leadership shuffle across major organizations.
- Despite overlaps in goals, advocates emphasize collaboration for effective representation.
- Coinbase's grassroots initiative, Stand With Crypto, and significant funding through PACs aim to bolster political support.
- Recent bipartisan efforts successfully repealed an IRS rule that threatened DeFi projects.
The industry faces challenges in consolidating efforts, as many groups compete for limited resources while pushing for similar objectives.