Cryptocurrency is making significant strides in Washington, D.C., with the industry striving to capitalize on burgeoning opportunities. However, as new organizations emerge and leadership roles change within advocacy operations, the landscape of pro-crypto groups vouching for the cause is becoming increasingly competitive.
With no fewer than a dozen groups such as the Digital Chamber, Blockchain Association, and Crypto Council for Innovation vying to influence U.S. digital asset policies, there is substantial membership and funding overlap among them. These groups aim to achieve similar goals in the regulatory sphere.
Leaders from these groups expressed a unified enthusiasm for contributing to favorable policy changes under President Donald Trump’s administration and a Congress enriched with industry allies. As Miller Whitehouse-Levine, who recently founded the Solana Policy Institute, stated, “Many objectives align across these groups, which is vital given the current legislative and regulatory demands.”
Congress is actively pursuing several pieces of crypto legislation, including market boundaries, oversight of stablecoin issuers, and measures against the use of digital assets in illegal financing. “Ideally, we’d have countless more groups and people engaged with these issues,” Whitehouse-Levine added.
Despite the unified front, some current and former policy specialists acknowledge the crowded nature of the field, noting the challenges of sustaining so many organizations with limited resources. While reorganization and consolidation discussions have occurred, they have yet to come to fruition.
Meanwhile, new entities have begun to emerge, including Whitehouse-Levine’s SPI and the National Cryptocurrency Association. Historically, figures or companies feeling underrepresented in the crypto advocacy space have spearheaded such developments. Additionally, significant crypto firms have established their own Washington D.C. operations to cater to specific interests.
New Leadership in the Crypto Space
Cody Carbone is just starting his tenure as head of the Digital Chamber, the oldest and largest crypto membership organization. Notably, several key digital asset organizations have experienced leadership turnovers in recent months.
Carbone recognizes why many are seeking to leverage the positive crypto sentiment in Washington and views the crowd of groups as a beneficial situation given the complex work on legislation. “Too many cooks might spoil the broth eventually, but that issue is not urgent,” he remarked.
Sheila Warren, who recently transitioned from her role at CCI, noted the importance of differentiation within the advocacy milieu but emphasized the need for unity toward common goals.
While agendas may differ, with some groups focusing on niche industry areas or user support rather than corporate interests, collaboration remains essential. Organizations such as Coin Center, Satoshi Action Fund, and Bitcoin Policy Institute contribute varied perspectives. Ripple, for example, launched the new NCA with a notable $50 million commitment aiming to be more user-focused.
The Political Dimension
The crypto industry, led by companies like Coinbase, is now making political waves, specifically aiming to foster grassroots support through initiatives like Stand With Crypto. Additionally, well-funded entities such as the political action committee Fairshake and the Cedar Innovation Foundation exert influence on this front.
Fairshake’s investment in pro-crypto lawmakers has already strengthened bipartisan support. For instance, Democrats collaborated with Republicans to halt an IRS rule imposing potentially onerous demands on decentralized finance projects.
Amanda Tuminelli, succeeding Whitehouse-Levine at the DeFi Education Fund, praised the multitude of organizations advocating for regulatory clarity as being critically needed. “Our collaborations on efforts like opposing the IRS’s broker rule on DeFi have been particularly effective.”
As regulatory issues, like those surrounding taxes or stablecoins, continue to evolve, the crypto advocacy landscape is entering a new era marked by a sudden leadership reshuffle.
As an example, Kristin Smith, previously at the Blockchain Association, transitioned to a new role with Whitehouse-Levine at Solana, leaving the association to seek new leadership. Similarly, longtime Digital Chamber leader Perianne Boring shifted focus to board duties, and the Coin Center founder exited.
In the interim, CCI’s Ji Kim expressed a commitment to maintaining a pivotal role in representing members on key policy issues, while discussions of possible mergers remain unconfirmed.
Carbone noted continued collaboration among groups, underscoring the necessity of enhanced cooperation. However, with financial and membership constraints, competitiveness is inherent as groups vie for limited resources.
