You can’t have too many crypto industry lobbying groups in Washington, D.C.

First it was the Blockchain Association, whose members include cryptocurrency exchange Coinbase. Now, it’s Ripple leading Securing America’s Internet of Value Coalition. The other members are Coil, a company developing a solution for digital payments; Hard Yaka, an investment firm focusing on digital assets; and PolySign, a company seeking to be a crypto custodian.

According to Bloomberg, these financial technology firms have hired Klein/Johnson Group, a bipartisan lobby shop that specializes in technology and financial services issues.

The group wants government oversight that allows members to be innovative while not hampering competition. To that end the group will be bending the ears of those in Congress, the Securities and Exchange Commission, the Internal Revenue Service and other agencies that touch on cryptocurrencies, said Izzy Klein, a former aide to Senate Minority Leader Charles Schumer of New York and a co-founder of Klein/Johnson.

Klein/Johnson will be paid about $25,000 a month and 10,000 XRP. The firm will have to convert the XRP price into dollars when it discloses the payments on federal lobbying forms. Read more here.

ThirtyK Staff
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