{"id":87605,"date":"2023-11-22T15:14:47","date_gmt":"2023-11-22T20:14:47","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/blockchain-association-releases-2023-annual-report\/"},"modified":"2023-11-22T15:14:50","modified_gmt":"2023-11-22T20:14:50","slug":"blockchain-association-releases-2023-annual-report","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=87605","title":{"rendered":"Blockchain Association Releases 2023 Annual Report"},"content":{"rendered":"
\n

The Blockchain Association released its annual report on Wednesday, November 22nd, showcasing the challenges and highlights faced by the crypto sector this year.<\/p>\n

Driving crypto forward<\/h2>\n

<\/span>
Founded in 2018, the Blockchain Association is a crypto advocacy group spearheaded by CEO Kristin Smith. According to their website, the organization\u2019s goal is to advance \u201ca future-forward, pro-innovation national policy and regulatory framework for the crypto economy.\u201d<\/p>\n

In particular, the report details the Blockchain Association\u2019s launch of 14 \u201cissue-based and sector-specific working groups\u201d covering significant conversations happening across Web3.<\/p>\n

Moreover, the advocacy group engaged in 175 House and Senate meetings and joined nearly 30 calls with White House officials.<\/p>\n

\u201cBesides legislative efforts in Congress, our team has filed many comment letters with regulatory agencies to ensure the rulemaking process is fair, narrowly tailored, and does not negatively impact digital asset innovation in the U.S.,\u201d said the Blockchain Association\u2019s Senior Counsel, Marisa Copel and Senior Policy Director, Sarah Milby.<\/p>\n

\u201cThe trials of 2023 have only reaffirmed our commitment to our mission, and as we look to the future, we do so with optimism, resilience, and a drive to further our shared vision,\u201d stated Dan Spuller, Senior Director of Industry Affairs for the Blockchain Association.<\/p>\n

Walking the walk<\/h2>\n

<\/span>
The announcement of the Blockchain Association\u2019s 2023 report comes days after the organization filed an amicus curiae brief with a U.S. appellate court against the United States Treasury\u2019s Office of Foreign Assets Control (OFAC) for their decision to sanction Tornado Cash.<\/p>\n

\u201cIf allowed to stand, this overreach will have sweeping consequences \u2013 weakening the digital asset industry, jeopardizing law-abiding Americans\u2019 financial privacy, and effecting a vast expansion of OFAC\u2019s power,\u201d concluded the brief.<\/p>\n

A changing regulatory landscape<\/h2>\n

<\/span>
The release of the report follows news of Binance founder, Changpeng Zhao, stepping down from his role as the crypto exchange\u2019s CEO as U.S. regulators announced swift enforcement actions against him and his company.<\/p>\n

\u201cThis is one of the largest penalties we have ever obtained from a corporate defendant in a criminal matter,\u201d said Attorney General Merrick Garland.<\/p>\n

As part of their settlement plan, Binance must surrender $4.3 billion in penalties and forfeitures and exit the U.S. market.<\/p>\n

\u201cLet me be clear: we\u2019re also sending a message to the virtual currency more broadly today and for the future,\u201d said Treasury Secretary Janet Yellen. \u201cIf virtual currency exchanges and financial technology firms wish to realize the tremendous benefits of being part of the US financial system and serving US customers, they must play by the rules.\u201d<\/p>\n

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Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Blockchain Association released its annual report on Wednesday, November 22nd, showcasing the challenges and highlights faced by the crypto sector this year. Driving crypto forward Founded in 2018, the Blockchain Association is a crypto advocacy group spearheaded by CEO Kristin Smith. According to their website, the organization\u2019s goal is to advance \u201ca future-forward, pro-innovation […]<\/p>\n","protected":false},"author":1,"featured_media":87606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-87605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nBlockchain Association Releases 2023 Annual Report | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The Blockchain Association released its annual report on Wednesday, November 22nd, showcasing the challenges and highlights faced by the crypto sector\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=87605\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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