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The Blockchain Association, a leading trade organization representing the cryptocurrency and blockchain industry, has announced its decision to leave New York and focus on federal crypto policy. The move comes as the industry continues to grapple with regulatory uncertainty and increasing scrutiny from government agencies.
In a statement, the Blockchain Association cited the state's "aggressive" approach to regulating cryptocurrencies as the reason for its decision to relocate. The organization, which has been based in New York since its inception in 2018, said that it would maintain a presence in the city but would shift its focus to federal policy issues.
The decision comes as the cryptocurrency industry faces mounting pressure from regulators in the United States and around the world. In recent months, the Securities and Exchange Commission (SEC) has signaled its intention to regulate the industry more closely, while the Biden administration has indicated that it will prioritize cybersecurity and financial stability in its approach to cryptocurrencies.
The Blockchain Association has been a leading voice in advocating for a more transparent and predictable regulatory environment for the cryptocurrency and blockchain industry. The organization has worked closely with policymakers and regulators to promote innovation and growth in the sector while ensuring that it is held to high standards of accountability and transparency.
The move to focus on federal policy issues reflects the organization's belief that a clear and consistent regulatory framework is essential for the industry's long-term success. By working with federal policymakers and regulators, the Blockchain Association hopes to shape policies that promote innovation and growth while protecting consumers and ensuring the integrity of the financial system.
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