The US franchise arm of the world’s largest blockchain company is preparing to establish its own lobbying group in the US capital.
Binance.US Leaves Blockchain Association
Binance.US formerly left the Blockchain Association to redirect effort towards its own lobbying initiatives in Washington DC and across the rest of the United States.
The news of Binance.US’ exit from the well-known lobbying group in DC was originally confirmed by CoinDesk on April 20, two years after Binance.US joined the group in August 2020. Binance.US will be opening its own lobbying office in DC, a person close to Binance.US confirmed to CoinDesk’s Brandy Betz. The Blockchain Association spokesperson, Curtis Kincaid, also confirmed the departure to CoinDesk.
“Binance.US made a major investment last year in the Blockchain Association,” the person relayed to CoinDesk. “Our executives recently negotiated in good faith with Blockchain Association executives in an effort to grow Binance.US’ role within the group. But after multiple conversations we ultimately determined that our values, goals, and standards were not fully aligned.”
There has been no official statement from either Binance.US or the Blockchain association, with both groups only passing along information through intermediaries.
“The resources that we would have dedicated will now be reallocated to efforts consistent with Binance.US’ policy agenda in Washington and state capitals across the country,” the Binance.US person added to CoinDesk.
The Blockchain Association currently has around 80 members in Washington and is one of the stronger voices regarding crypto lobbying in the US. The organization played a key role in rallying figures during Summer 2020 around Congressional legislation.
“We believe it’s time we had a clear voice with meaningful impact in the emerging policy debates around digital assets and cryptocurrencies in Washington,” the Binance.US spokesperson told CoinDesk. “We are excited to establish our own Government Affairs team in D.C. to actively engage in direct and constructive dialogue with U.S. policymakers on smart regulation that increases clarity and trust, while allowing American innovation and leadership to flourish in crypto.”
Binance.US has decided to go it alone for now with lobbying. They are not the first group to leave Blockchain Association. Coinbase also left the group after joining in August 2020, citing decisions that it deemed at “odds with the association’s mission.” Despite leaving, Binance.US may find that working as a group––at least now–– is better for the whole industry. Much remains to be seen.
Source : bsc.news
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