How Coinbase, Square and Fidelity will support Bitcoin
To contribute to Bitcoin and crypto regulation, 4 prominent partners have formed the Crypto Council for Innovation (CCI). Created by investment firm Paradigm, crypto exchange Coinbase, payment processor Square, and investment firm Fidelity Digital Assets.
The initiative aims to lobby on behalf of the cryptocurrency industry, conduct research, and promulgate the benefits of this asset class as well as its underlying technology to society. In a post via its Twitter handle, the Crypto Council for Innovation claimed:
We’ll provide useful information – and dispel misinformation – for policymakers, regulators, and citizens around the world. We all want the same thing from technology: to create better lives for human beings. The road to making that happen is paved with high quality information.
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Coinbase Global Inc., Square Inc., Fidelity Digital Investments, and Paradigm Investments have signed on as the pioneering cryptocurrency council’s initial members.
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The group titled “Crypto Council for Innovation” will lobby regulators, take up research projects, and promote the industry in general “championing the economic benefits of digital currencies and related technologies,” according to the WSJ report.
The council will appoint a board with members from each of the four initial signing companies and build an executive team to carry out the agendas.
The organization will mirror others’ efforts like Coincenter and Chamber of Digital Commerce in educating the regulators via starter programs like sending Bitcoins to all U.S. senators.
Major Bitcoin Players Unite to Form Trade Group to Promote Crypto newsweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsweek.com Daily Mail and Mail on Sunday newspapers.
A group of cryptocurrency heavyweights including Square and Coinbase launch an alliance to educate policymakers worldwide ilee@insider.com (Isabelle Lee)
The alliance aims to educate policymakers and institutions on the benefits of cryptocurrencies.
It also aims to debunk many wrong impressions the public may have towards cryptocurrencies.
Square, Fidelity, Coinbase, and Paradigm announced on Tuesday the formation of a group meant to boost the potential of cryptocurrencies by educating policymakers, regulators, institutions, and individual investors on the benefits of digital assets, which have seen exponential growth in recent years.
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The Crypto Council for Innovation is made up of the leading names in the cryptocurrency space, as first reported by The Wall Street Journal. The CCI was convened by San Francisco-based investment firm Paradigm, which focuses on cryptocurrencies.
BREAKING: Cryptos surge as Fidelity announces new Bitcoin trade group fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.