Coinbase and Ripple Push for Regulatory Framework, US Congress Stalls

A new working group, spearheaded by senior employees of Ripple and Coinbase, is going to advise United States regulators on crypto-friendly policies. But congresspeople are too busy preparing for the upcoming elections, which means that U.S. crypto firms will have to continue hula-hooping through state-by-state regulations in the near future. 

Earlier this month, a D.C.-based advocacy group called the Blockchain Association, representing a number of high-profile cryptocurrency firms, launched a working group tasked with pushing for a U.S.-wide regulatory framework. Called the Market Integrity Working Group, the new entity is co-chaired by Breanne Madigan, head of global institutional markets at Ripple; and Rachel Nelson, Coinbase’s senior director and associate general counsel. So what is it, exactly? 

The Blockchain Association’s Market Integrity Working Group was launched on Jan. 23. Both of its co-chairs are Wall Street veterans Madigan worked at Goldman Sachs for 15 years, while Nelson spent five years at J.P. Morgan. 

When asked about the structure of Market Integrity Working Group, Blockchain Association’s communications advisor Graham Newhall clarified to BnC, “It is just that, a working group, under the umbrella of the Blockchain Association.

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