On Monday, the Washington Technology Industry Association announced the launch of a United States Blockchain Coalition (USBC) – an organization established by more than 40 states to drive multistate collaboration across the blockchain and digital asset ecosystems. The move aims to help blockchain and crypto companies to increase their influence on legislation or policy developments.
USBC Launches to Promote Multi-state Collaboration Across the Blockchain Environment
More than 40 US states announced on Wednesday the launch of the United States Blockchain Coalition (USBC) – the first-of-its-kind institution created to “drive multistate collaboration and maintain American leadership in digital asset, Bitcoin, and distributed ledger technologies (DLT),” under the leadership of Arry Yu.
Companies in the burgeoning digital asset, crypto, and DLT sectors often do not have enough individual influence to impact legislation or policy outcomes. To address this issue, representatives from Texas, Washington, Florida, Wyoming, South Carolina, North Carolina, and Pennsylvania, among other states, joined forces to launch an organization with a multi-state approach.
Through hyperlocal relationships, USBC would be able “to seek consistent policies at the state level through alignment on public policy and legislative priorities. “
Member states of the USBC plan to emphasize and classify use cases across the US, offer accessible education to lawmakers, build relationships with regulatory authorities, and look for new partnerships with industry participants, government, and investors to facilitate the sector’s growth in the country.
USBC Can Prepare Blockchain Industry for the Next Growth Stage
The formation of the USBC comes in the wake of the remarkable growth of the blockchain and digital asset sectors in recent years. The nascent technology has gained widespread attention as it offers a secure, decentralized, and transparent way of storing and transferring data and value, with cryptocurrencies like Bitcoin and Ethereum becoming household names.
“The Bitcoin and blockchain industry is in a unique position – it has matured past infancy and is on the cusp of widespread adoption. Together, USBC members can lay the building blocks of what’s next for our industry and create a coherent operational environment for all states.”– said Lee Bratcher, Co-Chair of United States Blockchain Council and President of Texas Blockchain Council.
Samuel Armes, founder of the Florida Blockchain Business Association, commented: “With the Congress acting slowly, and the Executive Branch pursuing an aggressive Anti-Crypto agenda through SEC enforcement and their proxies like Elizabeth Warren, it is important that States begin to take an aggressive lead in the policy world to protect the interests of Bitcoin and blockchain companies alike.”
States are going to continue to take the lead. With Florida’s Anti-CBDC Bill, and multiple “Right to Mine” bills being passed by State Legislatures, States are pursuing aggressive agendas to counter what they see as a threats from D.C.