Blockchain Association

Blockchain Association's Kristin Smith joined NPR's Marketplace to discuss the current politics around digital assets and the power of the crypto voter saying, “The fact that we have this active and engaged, highly communicative community is a strength for the industry and something that will ultimately appeal to a broad cross-section of policymakers." She also commented on the hostility shown by the SEC: "Having a change in leadership at the SEC would be the most impactful for the industry. What we’ve seen out of this current SEC led by Gary Gensler is a very strong regulation by enforcement approach.” https://lnkd.in/eWm5fT-9

In their latest op-ed for CoinDesk, Blockchain Association's Marisa Tashman Coppel and DeFi Education Fund's Amanda Tuminelli shed light on the SEC's new mass surveillance tool - the Consolidated Audit Trail or "CAT" - and the ensuing privacy concerns. Remember: Privacy is normal. https://lnkd.in/eMuiCGdG

"Democrats have an opportunity to safeguard the next generation of American innovation—and reach a new set of voters. In the excessively polarized political climate we find ourselves in today, the ability to attract an expanding community—such as the crypto ecosystem—can mean the difference between winning and losing narrow elections." Today in Fortune, Anthony Scaramucci and Kristin Smith examine the dynamics around the 'crypto voter' and why Democratic thinking must change on digital assets going into the November election. https://lnkd.in/eeEgyAT3

Today, Blockchain Association CEO Kristin Smith sent a letter to President Biden encouraging a signature on H.J.Res. 109, a bipartisan bill that repeals #SAB121. This week’s vote on #FIT21 shows the desire to keep digital asset innovation in the United States is shared across party lines. The more than 50 million investors and users of crypto are making their voices heard in Washington – and Congress is listening. We encourage President Biden to sign H.J.Res. 109 to strike down this harmful rule and keep the United States positioned as the global leader in tech innovation. https://lnkd.in/eJzJwkus

Blockchain Association, the leading trade association representing the cryptocurrency and blockchain technology industry, today celebrated the bipartisan passage of the Financial Innovation and Technology for the 21st Century Act (FIT21) by the U.S. House of Representatives. The legislation aims to establish a comprehensive regulatory framework for digital assets in the United States, attempting to provide clarity for companies innovating in the space while implementing consumer protections. “The House passage of FIT21 represents a watershed moment and badge of Congressional validation for the crypto industry in the United States,” said Kristin Smith, Blockchain Association CEO. “This bipartisan vote signals that lawmakers on both sides of the aisle recognize the immense potential of blockchain technology and digital assets, while also acknowledging the need for regulatory guidelines to enable responsible innovation and prioritize consumer safeguards.” For years, the crypto industry has operated in a regulatory “no man’s land,” with federal agencies claiming jurisdiction via court case instead of open rulemaking and taking aggressive enforcement actions that created confusion and stifled innovation. FIT21 represents Congress reasserting its authority over economic policy and mandating a national regulatory framework tailored specifically for digital assets. While the legislation is not perfect, it tries to strike a balance between fostering transformative innovation and implementing consumer protection measures. “While there is still work to be done refining and improving the legislation, we celebrate the House passage of FIT21 and how far the crypto industry has evolved to reach this historic milestone,” Smith said. “The bipartisan momentum behind this bill underscores crypto’s growing political force.” Blockchain Association and its members remain committed to constructively contributing to sensible policies that enable digital assets and blockchain technology to flourish responsibly in the United States while upholding rigorous consumer protection standards. https://lnkd.in/e9UWYQb3

Today, Blockchain Association members sent a letter to Speaker Johnson and Minority Leader Jeffries in support of a floor vote for the Financial Innovation and Technology for the 21st Century Act (#FIT21). Our member companies are working to improve financial services and build a better internet – but need legislation that offers a framework for innovation, regulatory clarity for U.S. operators, and protection for users and consumers. Legislation must include pro-innovation and pro-consumer guardrails to ensure a fair and safe marketplace – and to safeguard U.S. technological leadership in this cutting edge space. The policy issues facing our industry are complex – and passing this legislation in the House will enable further discussion and debate in the Senate. Therefore, our members urge the House of Representatives to vote “yes” on H.R. 4763. Read the full letter: https://lnkd.in/e_RDw34J

Registration for Blockchain Association's third annual Policy Summit is now open! BA member? Don't miss it. Register today. https://lnkd.in/dGBqiyNr

Blockchain Association member Digital Currency Group released data with The Harris Poll that explores swing state attitudes toward digital assets and the financial system. It's clear that crypto is becoming a significant voting issue and could present an opportunity for more political candidates to join the conversation on digital assets. A striking topline: 1 in 5 registered voters in battleground states consider cryptocurrency a major issue in the 2024 election. Explore the full findings: https://lnkd.in/e2ge-fMW

Congratulations to BA CEO Kristin Smith for being recognized as one of Washingtonian Magazine’s 500 Most Influential People in Washington, along with leaders from our member companies including Kara Calvert, Brian Quintenz, Kevin Wysocki, and Collin McCune. https://lnkd.in/eD5u5tQr

Today, Blockchain Association (BA) and the Crypto Freedom Alliance of Texas (CFAT) filed a lawsuit against the Securities and Exchange Commission (SEC) in the Northern District of Texas that challenges the SEC’s misguided attacks on the U.S. digital asset industry and the Commission’s arbitrary and capricious rulemaking. BA and CFAT seek a court order to strike down the SEC’s Dealer Rule due to the SEC’s various Administrative Procedure Act (APA) violations that prevent industry participants from being able to operate under clearly communicated rules that have gone through a fair and transparent rulemaking process. The complaint alleges that the SEC violated the APA in unlawfully expanding the SEC’s interpretation of the statutory term “dealer,” enacted as part of the Securities Exchange Act of 1934. The SEC’s unlawful radical expansion bears no resemblance to the long-standing and well-settled meaning of the term, and mandates an approach that will cause irreparable damage to the tens of millions of Americans and businesses who participate in digital asset trading. In expanding the term “dealer,” the SEC refused to substantively engage with commenters’ serious questions concerning how the rule would apply to digital asset technology. The rule fails to adequately assess the costs and benefits of such an approach, and applies a vague, much-broader, standard that pulls in participants who, in no way, resemble a “dealer” as the term has been understood for decades.  https://lnkd.in/eJyUVw4Z