On Monday, the Washington Technology Industry Association announced the launch of a United States Blockchain Coalition (USBC) \u2013 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.<\/p>\n
More than 40 US states announced on Wednesday the launch of the United States Blockchain Coalition (USBC) \u2013 the first-of-its-kind institution created to \u201cdrive multistate collaboration and maintain American leadership in digital asset, Bitcoin, and distributed ledger technologies (DLT).\u201d<\/p>\n
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, California, Florida, Wyoming, and Pennsylvania, among other states, joined forces to launch an organization with a multi-state approach.<\/p>\n
Through hyperlocal relationships, USBC would be able \u201cto seek consistent policies at the state level through alignment on public policy and legislative priorities. \u201c<\/p>\n
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\u2019s growth in the country.<\/p>\n
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.<\/p>\n
\u201cThe Bitcoin and blockchain industry is in a unique position \u2013 it has matured past infancy and is on the cusp of widespread adoption. Together, USBC members can lay the building blocks of what\u2019s next for our industry and create a coherent operational environment for all states.\u201d<\/p>\n
\u2013 said Lee Bratcher, Co-Chair of United States Blockchain Council and President of Texas Blockchain Council.<\/cite><\/p>\n However, besides offering clear benefits, the technology also poses serious risks that must be addressed to maintain meaningful growth. These risks have been highlighted by a series of collapses and hacks in recent years, forcing global regulators to tighten their scrutiny of the industry to protect investors.<\/p>\n This article originally appeared on The Tokenist<\/i><\/p>\n Sponsored: Tips for Investing<\/b><\/p>\n A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.<\/p>\n Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses,\tconsider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.<\/p>\n