Large crypto-related companies form an alliance to lobby policymakers

Large crypto-related companies form an alliance to lobby policymakers
April 07
13:02 2021

An exclusive article by The Wall Street Journal yesterday revealed that several cryptocurrency-related companies formed a group to educate policymakers on the benefits of digital currencies. According to the source, the members of the group include Paradigm, Square, Coinbase Global, and Fidelity Digital Assets. The alliance received the name Crypto Council for Innovation.

According to the website of the Crypto Council for Innovation, the alliance aims to increase awareness of the various benefits of cryptocurrencies to regulators and policymakers. The website mentions such benefits as boosting economic growth, creating jobs, improving privacy, and improving financial inclusion. In particular, the group aims to generate more awareness about crypto and its benefits. Achieving this would involve educating policymakers, establishing government relations, and performing research in the crypto space, the website says.

Some altcoins have performed very well in the past week. As a result, on Monday, April 5, the price increase of many tokens at once has pushed the crypto market cap over $2.02 trillion, although it is now down to around $1.88 trillion, per CoinMarketCap.com data.

The establishment of the Crypto Council for Innovation also comes during the time of increasing adoption of cryptocurrencies by institutions. Cryptocurrencies are part of portfolios of companies like Tesla, MicroStrategy, Square, and Meitu. Moreover, Goldman Sachs and Morgan Stanley recently started offering digital investment support for their wealthy clients.

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment