It’s crunch time for crypto in Washington, D.C.
A regulatory battle is coming and the federal government is baring its teeth in nasty ways. These include the Treasury Department pushing the global Financial Action Task Force to adopt anti-crypto regulations, and a new spree of investigations by the IRS. Meanwhile, Congress still shows no sign of passing commonsense measures—such as a de minimis tax exemption for crypto transactions under $200—that would make crypto more appealing for consumers.
The situation calls for the crypto industry pushing for clear policy proposals, backed by a crack lobbying game. Alas, the industry is mired instead in schisms and infighting—a situation reflected in the sprawling number of trade groups all purporting to speak for crypto.
Just this week, a new lobbying group sprung up Washington, DC. It involves two of the biggest names in the crypto world, Coinbase and hedge fund Paradigm, and two heavy hitters from the fintech and finance realms, Fideli
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