#Eight associations jointly lobby for crypto policies#
Hot Topic Overview
Overview
The Blockchain Associations of eight U.S. states have recently joined forces to form the North American Blockchain Association (NABA), aiming to provide unified cryptocurrency policy recommendations to the federal government. The organization is spearheaded by the Texas Blockchain Council (TBC) and its members include the Alabama Blockchain Alliance, the California Blockchain Advocacy Coalition, the Florida Blockchain Business Association, the Ohio Blockchain Council, the Pennsylvania Blockchain Alliance, the Virginia Blockchain Council, and the Cascadia Blockchain Council of the Washington Technology Industry Association. The establishment of NABA aims to advocate for a more favorable policy environment for the crypto industry, particularly targeting the incoming Trump administration, which is considered to have a more positive stance on cryptocurrencies. NABA's membership includes prominent crypto companies such as Coinbase and Galaxy Digital Holdings, as well as Bitcoin miners like MARA Holdings, Riot Platforms, Core Scientific, Bitmain, and Cipher Mining. The organization hopes to influence the federal government through collective lobbying, promoting more sensible cryptocurrency policies.
Ace Hot Topic Analysis
Analysis
Eight US blockchain associations have joined forces to form the North American Blockchain Association (NABA), aiming to provide a unified voice on crypto policy to the federal government. The group is led by the Texas Blockchain Council (TBC) and includes members like the Alabama Blockchain Alliance, California Blockchain Advocacy Coalition, Florida Blockchain Business Association, Ohio Blockchain Council, Pennsylvania Blockchain Alliance, Virginia Blockchain Council, and the Cascadia Blockchain Council of the Washington Technology Industry Association. The formation of NABA aims to provide the federal government with cohesive crypto policy recommendations and is optimistic about the pro-crypto policies of the new Trump administration. Lee Bratcher, chairman of the TBC, stated that they hope the Trump administration will maintain fair and consistent policies, applying the same rules to all crypto businesses. Over half of the TBC’s funding comes from Bitcoin miners, who believe the Trump administration is unlikely to impose high taxes or restrict their growth. Although the Texas power grid faces challenges, it is not expected to discriminate against miners with restrictive policies. The formation of NABA marks a significant step in the US blockchain industry actively seeking collaboration with the government to shape crypto policy and foster a more favorable environment for industry growth.
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Public Sentiment
Discussion Word Cloud
Classic Views
Eight US blockchain associations have joined forces to form the North American Blockchain Association (NABA), aiming to provide unified cryptocurrency policy recommendations to the federal government.
NABA members include the Texas Blockchain Council, the Alabama Blockchain Alliance, the California Blockchain Advocacy Coalition, the Florida Blockchain Business Association, the Ohio Blockchain Council, the Pennsylvania Blockchain Alliance, the Virginia Blockchain Council, and the Washington Technology Industry Association's Cascadia Blockchain Council.
NABA is optimistic about the crypto-friendly policies of the new Trump administration, believing that they will benefit bitcoin miners.
NABA members believe that Texas' electric grid faces challenges, but they do not expect discriminatory restrictions on mining companies.