Bitcoin companies, institutions unite in Blockchain Alliance

A new organization, uniting the efforts of numerous Bitcoin companies and institutions, was formed in Washington on Thursday.

The Blockchain Alliance is a public-private forum, founded by the Chamber of Digital Commerce and Coin Center, and comprising an impressive list of members, whose common aim is to combat criminal activity related to Bitcoin and the blockchain.

Industry participants in the new organization include the Chamber of Digital Commerce, Coin Center, MIT Media Lab’s Digital Currency Initiative and developer Gavin Andresen, BitFinex, BitFury, BitGo, Bitnet, BitPay, BitStamp, Blockchain, Bloq, Circle, CoinBase, CoinX, ItBit, Kraken, Noble Markets, and Xapo.

According to the announcement about the launch of the forum, the Blockchain Alliance will be collaborating with the Department of Justice, including the FBI and the U.S. Marshals Service, the U.S. Secret Service, Immigration and Customs Enforcement Homeland Security Investigations, and the Commodity Futures Trading Commission (CFTC). It also intends to engage with other U.S. and foreign agencies as well.

Jason Weinstein, Partner at Steptoe & Johnson LLP and the former Deputy Assistant Attorney General in charge of cybercrime investigations at the Department of Justice, will become Director of the Blockchain Alliance.

Perianne Boring, President of the Chamber of Digital Commerce, said,

“It’s no secret that Bitcoin has perception issues, which is a roadblock to mainstream adoption. Having an open dialogue with law enforcement and policymakers will help reduce anxiety about this transformative technology.”

Jerry Brito, Executive Director of Coin Center, said,

“We look forward to partnering with the other participating companies and organizations to ensure that the capacity of Bitcoin and the blockchain to benefit so many is not overshadowed by the potential for misuse by a few. Working together, we can promote an approach to enforcement and regulation that supports, rather than stifles, innovation.”

Jason Weinstein, Director of the Blockchain Alliance and Partner at Steptoe & Johnson LLP, said,

“The companies participating in this initiative are not only good companies, but they are also good corporate citizens. For the blockchain to thrive, the industry must work together to correct the misperception of bitcoin as the ‘currency of criminals.'”

The announcement about the launch of the new forum was made the same day, as the European Court of Justice (ECJ) delivered a piece of good news for crypto currencies exchanges in Europe by saying that Bitcoin exchanges should be exempt from value added tax.

To view the official announcement on the launch of the new organization, click here.

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