Binance US Is Now Quitting the Blockchain Association

Binance US Has Left the Blockchain Association

Binance.US is quitting the Blockchain Association, a well-known crypto lobbying group, after less than two years owing to a “difference in values, goals, and standards,” according to a source close to the firm.

“Binance.US made a major investment last year in the Blockchain Association,” said the person. “Our executives recently negotiated in good faith with Blockchain Association executives in an effort to grow Binance.US’ role within the group. But after multiple conversations we ultimately determined that our values, goals and standards were not fully aligned.”

“The resources that we would have dedicated will now be reallocated to efforts consistent with Binance.US’ policy agenda in Washington and state capitals across the country,” the person continued.

A spokeswoman for the Blockchain Association verified the departure of the leading crypto exchange.

“The Blockchain Association wishes Binance.US the best of luck as they build out their operation in Washington,” spokesperson Curtis Kincaid said via email. He said the organization currently has a membership of “more than 80 of the American crypto economy’s most prominent firms, investors, exchanges, infrastructure companies, and projects.”

In August 2020, the leading crypto exchange became a member of the lobbying group. Soon after, Coinbase resigned from the Blockchain Association, citing board decisions that were “at odds with the association’s mission,” though it did not specifically blame Binance.US.

“We believe it’s time we had a clear voice with meaningful impact in the emerging policy debates around digital assets and cryptocurrencies in Washington,” a Binance.US spokesperson told CoinDesk, adding: “We are excited to establish our own Government Affairs team in D.C. to actively engage in direct and constructive dialogue with U.S. policymakers on smart regulation that increases clarity and trust while allowing American innovation and leadership to flourish in crypto.”

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