Today, there are barriers to these advancements. Innovators face regulatory minefields while lawmakers must navigate complex consumer protection and security concerns. We’re committed to creating deep partnerships—within and between industry and government—to share knowledge, identify opportunities, and co-create a digital future that’s more transparent, inspiring, secure, and equitable.
Washington, D.C. (August 24, 2021) – The Blockchain Association Executive Director Kristin Smith released the following statement after the House Rules Committee voted to prohibit amendments to the infrastructure bill:
“It is unfortunate, but unsurprising, that the House has decided to not consider any amendments to the current infrastructure bill. Despite the desire of several members of the House and Senate to fix the poorly-designed crypto tax provision in the existing language, we will be left with an overly-broad statute that will harm American innovators.
“However, this is not the end of the process. The Blockchain Association, our 46 member companies and the newly-energized, nationwide crypto community will rededicate our energy to supporting technology-neutral, pro-crypto legislation and regulation – on this specific tax issue as well as broader crypto policy. We are heartened by the bipartisan and bicameral support to pursue such legislation, and we will continue to fight to keep America at the innovative forefront of one of the most important technologies of the 21st century.”
Washington, D.C. (August 9, 2021) – The Blockchain Association Executive Director Kristin Smith released the following statement after the Senate failed to reach unanimous consent to pass the Toomey-Warner-Lummis-Sinema-Portman compromise to avoid harmful, unintended consequences for American innovation:
“Washington politics prevailed over common sense today. While we remain hopeful a political roadblock may be moved by tomorrow morning, we’re bracing for next steps. By failing to reach unanimous consent on the Toomey-Warner-Lummis-Sinema-Portman compromise, the U.S. Senate jeopardizes American leadership in financial and technological innovation. As written, the infrastructure bill contains harmful IRS reporting requirements that many in the crypto ecosystem lack the capabilities to comply with. As a result, many crypto players will be forced to move overseas, leaving future jobs and economic growth on the table.
“However, today’s setback isn’t the end. The Blockchain Association and our 46 member organizations look forward to engaging with members of the House of Representatives to ensure the unclear and unworkable aspects of this provision are removed once and for all.”
Washington, D.C. (August 9, 2021) – The Blockchain Association Executive Director Kristin Smith released the following statement after Senators Toomey, Warner, Lummis, Sinema, and Portman proposed a compromise amendment to adjust language in the roughly $1 trillion infrastructure bill to avoid harmful, unintended consequences for American innovation:
“Over the past week, we have witnessed a groundswell of support and engagement from the crypto industry – as well as the broader crypto community – to fix language in the $1 trillion infrastructure deal. While the compromise proposed by Senators Toomey, Warner, Lummis, Sinema, and Portman leaves work to be done, the Blockchain Association fully supports this improvement to the original language. In particular, we thank Senator Wyden for his tireless efforts to support the crypto ecosystem, and we share his passion for privacy and security in the industry. We look forward to our continued work together on smart policy solutions.
“While long-term clarifying fixes are needed, we encourage the Senate to support the compromise – and, moving forward, to work with industry to proactively craft smart policy to keep the U.S. at the forefront of crypto innovation.”