The moment for cryptocurrency has seemingly arrived in Washington, D.C., and the industry is making efforts to capitalize on it. However, as new organizations emerge and leadership transitions occur within established advocacy groups, the arena of pro-crypto organizations advocating for favorable policies has become increasingly crowded.
Currently, more than a dozen groups—including the Digital Chamber, Blockchain Association, and Crypto Council for Innovation—are vying to influence digital asset policies in the United States. Many of these organizations share overlapping membership bases, funding sources, and common objectives.
Leaders from these groups suggest a collaborative approach to advocating for a favorable policy environment under a White House administration that is particularly receptive to crypto interests. “Many of the objectives are consistent across these groups,” remarked Miller Whitehouse-Levine, co-founder of the newly launched Solana Policy Institute. “That’s a good thing, as there’s an absolute torrent of legislative and regulatory work occurring right now, and we need all the help we can get.”
The legislative agenda is currently busy with several key crypto bills aimed at establishing parameters for crypto markets, regulating stablecoin issuers, preventing the use of digital assets for illicit financing, mandating proof of reserves for crypto firms, and potentially creating government digital reserves. “In an ideal world, we would have 100 more groups and 10,000 more people working on these issues,” Whitehouse-Levine remarked.
However, some current and former policy advocates privately recognize the challenges posed by the expanding number of organizations. With a limited pool of congressional staff, White House officials, and regulators, the efficacy of so many entities promoting a homogeneous cause becomes questionable. Discussions of consolidation within the industry have occurred in the past but have yet to yield any tangible results.
As new organizations continue to emerge—such as Whitehouse-Levine’s SPI and the National Cryptocurrency Association—the dynamics shift further. Often, these new entrants arise when a company or lobbyist identifies an unrepresented interest and finds a way to fund advocacy efforts. Larger crypto firms have also established their dedicated D.C. operations to advocate for more tailored interests.
Leadership Shifts
Cody Carbone has just taken the helm of the Digital Chamber, the oldest and largest crypto membership organization. Numerous major organizations in the digital assets sphere have experienced leadership changes in the initial months of this year. Carbone recognizes why interest in Washington has surged and views the influx of groups as a potential advantage given the substantial work needed to navigate complex legislation.
“At some point, there could be too many cooks in the kitchen,” he cautioned. “But that’s a consideration for another day.”
Sheila Warren, former head of the Crypto Council for Innovation (CCI), acknowledged the importance of collaboration amidst the growing number of crypto advocates. “There’s definitely room for differentiation in our expanding ranks,” she stated. “However, a united front—whatever form it takes—is essential.”
Notably, not all organizations share identical agendas. While some narrow their focus to specific industry segments, others prioritize research or user advocacy rather than corporate interests. Among these are important groups like Coin Center, Satoshi Action Fund, and Bitcoin Policy Institute. The newly formed NCA, backed by a substantial commitment from Ripple, aims to center its attention on the needs of crypto users rather than industry players.
The Political Landscape
As advocacy becomes increasingly political, key players—such as the U.S. exchange Coinbase—have initiated grassroots campaigns to represent the interests of crypto enthusiasts. Coinbase launched Stand With Crypto to galvanize a public movement for cryptocurrency, bolstered by the politically-active Fairshake PAC and the Cedar Innovation Foundation.
Last year, Fairshake invested over $100 million to elect sympathetic lawmakers, translating into early bipartisan support in this legislative session. A recent notable example includes Democrats joining Republicans to revoke an IRS rule that would impose burdensome requirements on decentralized finance (DeFi) projects.
“The myriad of organizations aimed at achieving regulatory clarity for digital assets is tremendously beneficial,” asserted Amanda Tuminelli, who took over the DeFi Education Fund following Whitehouse-Levine’s departure. “We’ve seen great outcomes when we collaborate, such as in the case of the IRS broker rule regarding DeFi.”
The current discussions regarding taxation, government digital reserves, market structures, and stablecoin regulations mark a pivotal chapter in the crypto lobbying landscape. The abrupt executive changes at various organizations further underscore the dynamic environment.
Kristin Smith, a former leader at the Blockchain Association, has moved to join Whitehouse-Levine’s Solana organization, leaving the Blockchain Association in search of new leadership. Likewise, Perianne Boring, the founder of the Digital Chamber, has stepped into a role leading its board without an official title. Concurrently, Jerry Brito, the founder of Coin Center, is also transitioning out of his position, resulting in a significant reorganization across the sector.
In the absence of established leaders, stakeholders remain committed to collectively advocating for policy issues affecting the industry. While Carbone noted that constructive conversations are happening among various groups, he acknowledged the need for increased collaboration.
However, the competitive nature of gaining funding and members poses obstacles, as many potential members may opt to join just one or two organizations. “It would be naive to deny the competitive angle here,” Carbone concluded. “There is a race to secure support that cannot be ignored.”
