Universal Protocol Alliance, Cred join Blockchain Advocacy Coalition as board members

The Universal Protocol Alliance, a coalition of blockchain organizations formed in August 2018, and crypto lending startup Cred are joining the board of the Blockchain Advocacy Coalition (BAC) to provide education and support to state and federal legislators and regulators.

Established in 2018, the BAC is a group of business and consumers working to support blockchain-friendly legislation in California and across the United States. It connects industry experts with legislators and participates in direct advocacy with elected officials.

“We’re pleased to welcome Cred and the Universal Protocol Alliance to our Board,” said Ally Medina, Executive Director of BAC. “These pioneering blockchain organizations are at the cusp of innovation. By working closely with policymakers and regulators, our board members will help develop thoughtful policy initiatives that support innovation in the blockchain industry and benefit the U.S. economy.”

In California, BAC members have testified at a half dozen committee hearings and met with 32+ legislative offices during a blockchain education day in Sacramento.

With California being home to half of the country’s crypto and blockchain industry, Medina said that any “thoughtful legislation passed here can serve as a model for the federal government and other states.”

“California has always been a place for innovation and opportunity, and SB 838 shows how we can use technology to increase consumer protection and help prevent cases of fraud,” said Senator Hertzberg (D-Van Nuys). “That it was signed into law is a great testament to the work being done around the state by folks like the Blockchain Advocacy Coalition to advance this rapidly growing technology.”