Crypto’s moment has apparently arrived in Washington, DC, and the industry is trying to make the most of it. But when new organizations are stopped and leadership change at the top advocates, the area of pro-crrypto groups trying to carry the torch is more crowded than ever.
No less than a dozen groups – including Digital Chamber, Blockchain Association and Crypto Council for Innovation – trying to control digital assets in the US, some of them significantly overlapping in their membership bases, sources of financing and in the goals they seek to achieve.
Most of the leaders of these groups told Coindesk that they have a more-Merier view of pushing for friendly politics from President Donald Trump’s very receptive administration and from Congress, which is increasingly filled with the industry’s allies.
“Many of the goals are consistent across these groups,” said Miller Whitehouse-Line, who recently left the Defi Education Fund to launch the new Solana Policy Institute. “It’s a good thing because I think there’s an absolute stream of legislative and legislative work going on right now and we need all the help we could get.”
Congress chases several crypto bills, including legislation to set limits on crypto markets, oversee stableco -issuers, limit digital assets in illegal funding, call for proof of reserves at Crypto companies and set up government’s digital reserves. “We would have 100 more groups and 10,000 more people working on these questions in an ideal world,” added Whitehouse-Veline.
But other current and former political proponents give privately, the field is packed and that it can be difficult to justify so many units that draw from the same case with the same final universe of congress staff, white house offices and regulatory officials. In the recent past, groups have talked about reorganization and consolidation, according to people who are familiar with the discussions, although no such effort has been made.
Meanwhile, new organizations have been hanging their shingles in recent weeks, including Whitehouse-Levines Spi and the National Cryptocurrency Association, which further increases the ranks. This is often how the number has grown in Washington: a business or lobbyist who feels a certain specific interest is not properly represented and can find out how to pay for it. And large crypto companies have also created their own DC operations and pressed for their more highly tailored interests.
New leaders
Cody Carbone is still only a few days in its leadership of the digital chamber – the oldest and largest crypto membership group. The chamber of chamber and virtually all other major digital activation organizations have lost or swapped leaders in the opening months this year – many of them for the past few weeks.
He said he understands why so many are suddenly eager to show up in Washington to take advantage of turns in the crypto mood, and he sees this crowded field of American groups as a net positive when there is so much work to walk around and get complex legislation done.
“At one point there could be too many chefs in the kitchen,” he said. “But I think it’s a problem for a later day.”
Sheila Warren, who recently stepped away as chief of CCI, said “There’s certainly room for differentiation” in Crypto’s growing army of boosters, but she said a unified front – regardless of form – is the key.
“I think it’s really about getting together and recognizing that we all want the same things,” she said.
Not all the groups share the same agendas. Some focus on narrow areas of the industry, and a few are more oriented towards research or serving crypto trucks rather than companies. Their ranks include Coin Center, Satoshi Action Fund, Bitcoin Policy Institute, Government Blockchain Association and Bitcoin Mining Council. Ripple started the new NCA with an astonishing $ 50 million commitment, and it’s meant to be one of those more interested in the people who use and invest in crypto than industry players.
Politics
On the raw, political edge of advocacy, the industry – especially the US exchange coin base – has entered the arena. Coinbase setup with crypto in an attempt to start a grassroot-style crypto movement. This message-of-the-people strategy was strengthened by the extremely well-funded political action committee FAIRSHAKE and Dark-Money Influence Arm, Cedar Innovation Foundation.
FairShake spent more than a hundred million dollars to put friendly legislators in the congressional places last year, and the industry is already seeing great, bipartisan support in the early days of the new session. A point of evidence: Democrats came into force to participate in Republicans in killing an Internal Revenue Service Rule that could have made existent-threatening requirements for decentralized financing projects (DEFI).
“I think it’s a huge advantage that we have so many organizations dedicated to trying to gain legislative clarity for digital assets,” said Amanda Tuminelli, who stepped up to run Defi Education Fund when Whitehouse-Veline left. “I think it’s really necessary, especially in the last few years, and when we work together we actually achieve great results. For example, the IRS realizes the broker on defi.”
As it deals with the most important questions about tax, the government cryptor reserves, the structure of the markets and the regulations of stablecoins, the crypto lobby business jumps into a new chapter. This transition is made even more sharp with the sudden and dramatic mix of leadership.
Kristin Smith, who was the head of one of the leading groups, left the Blockchain Association to go work for previously underlying Whitehouse-Veline as president of his new Solana organization. So the association is left shopping for a new CEO. Meanwhile, the founder and the long -time leader of the digital chamber, Perianne Boring, published this job for unpaid work that led the board, and the founder of Crypto Think Tank Coin went similarly.
In Warren’s absence in CCI, the JI Kim group’s former Attorney General and head of the global policy-Coindesk told him to remain “laser-focused to ensure that CCI remains the leading, material and global voice of our members on key political issues.” When asked about the potential of organizational fusions, he said he had nothing “to say” at that point.
The lobbyists and proponents are routinely gathered about letters, events and papers that push their common goals.
Carbone said there is “certain kindness and conversations between us”, though he said there “must be more cooperation.”
However, the groups have a practical need for funding and members, and they are driven to secure members who can sometimes afford only one or two of them.
“There is obviously a competitiveness angle on this too,” Carbone acknowledged. “It would be naive to say that there is not, so there is sometimes a race.”