OP-ED: Crypto lobbying kicked into high gear this year by BlockchainAssn's KMSmithDC
Kristin Smith is the executive director of the Blockchain Association, the Washington,the crypto industry.It’s true: the industry raised a firestorm in Washington around the crypto broker provision in the infrastructure bill and was narrowly defeated in its efforts to remove that provision from the final bill by an unfortunate bit of Senate rule gamesmanship.
Happily, we believe the crypto community has embraced the need for political power and is ready to engage at a new level of investment in the coming year. To leverage this position, we are glad to predict that those telling the crypto story in D.C. will have access to much more resources over the next year and beyond. As crypto investors, founders, and others who have grown rich in this space come alive to the need for a powerful lobbying and advocacy force, the amount of money available to those shaping the policy and regulatory environment will undoubtedly increase.
This is a decidedly mixed state of affairs and demonstrates the long, uphill battle the crypto community must commit itself to if it hopes to shape federal regulation, rather than simply trying to prevent the worst impulses of the anti-crypto set. The stakes for the industry are incredibly high; punitive regulation has the potential to harm our industry’s growth and undercut the United State’s traditional embrace of groundbreaking new technology.
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