Grayscale Investments, the world’s largest digital asset manager, has pledged $ 1 million to Coin Center, the most influential consultancy in Washington, DC, a move it believes will help expand the industry’s “fundamental knowledge”.
The $ 1 million donation was announced Monday in a press release that also revealed Grayscale’s plan to donate together at the Coin Center through the end of February. During this period, Grayscale plans to match dollar-for-dollar donations up to $ 1 million.
Grayscale was inspired by the donation and comparison program from Kraken, a San Francisco-based exchange that raised more than $ 3 million for the Coin Center in 2018. That includes the $ 2 million earmarked directly for Kraken.
“Mint has played a major role in discussing issues affecting our ecosystem,” Grayscale told Cointelegraph.
The asset manager added that in the past two months, the Coin Center has sent out two strong messages of comment that have been key to resolving issues in the proposed regulation of the Financial Crime Network, or FinCEN, that will have serious negative consequences for itself. Host wallet users and the entire cryptocurrency industry. ”
Coin Center is a leading research center promoting public policy issues around digital assets and the blockchain. In 2017, a group of lawyers went to Congress to show how Bitcoin works to lawmakers. Last year, the organization reached out to the cryptocurrency community to ensure that isolation measures from the COVID-19 era do not violate civil liberties and privacy.
When asked about the most urgent legal work needed for the cryptocurrency industry today, Grayscale said:
“It’s all about education. Regulators need basic knowledge of the subject in order to make informed decisions about the accounts hitting the desktop. When it comes to politicians, education is the biggest challenge and opportunity for our industry.”
Niraj Agrawal, director of public affairs at the Queen Center, told Cointelegraph that he is “overwhelmed by the continued support of the legal team from the community and industry”. “We will use this money to continue to represent Bitcoin, Ethereum and cryptocurrencies in general in the capital,” he said.
Next year, Agrawal said the Coin Center plans to continue focusing on financial privacy and “smarter tax policies.”