#Blockchain Associations Unite#
Hot Topic Overview
Overview
The Blockchain Associations of eight U.S. states announced the formation of the North American Blockchain Association (NABA) on Tuesday, aiming to provide a cohesive voice for cryptocurrency policy recommendations to the federal government. The organization is composed of the Texas Blockchain Council, Alabama Blockchain Alliance, California Blockchain Advocacy Coalition, Florida Blockchain Business Association, Ohio Blockchain Council, Pennsylvania Blockchain Alliance, Virginia Blockchain Council, and Washington Technology Industry Association’s Cascadia Blockchain Council. The formation of NABA is intended to address the potentially friendly cryptocurrency policies of the incoming Trump administration and provide a more unified voice for the industry. The organization’s creation also reflects the increasing importance of blockchain technology and cryptocurrency in U.S. states, and the willingness of these states to cooperate in advancing the industry.
Ace Hot Topic Analysis
Analysis
The North American Blockchain Association (NABA) was formed by a coalition of blockchain associations from eight U.S. states to provide a cohesive voice on cryptocurrency policy to the federal government. The organization was formed in response to the potential for favorable policies from the incoming Trump administration and to counter potential tax policies and data-gathering measures against Bitcoin miners that may be implemented by the Biden administration. Members of NABA include the Texas Blockchain Council, the Alabama Blockchain Alliance, the California Blockchain Advocacy Coalition, the Florida Blockchain Business Association, the Ohio Blockchain Council, the Pennsylvania Blockchain Alliance, the Virginia Blockchain Council, and the Cascadia Blockchain Council of the Washington Technology Industry Association. The organization’s funding is largely driven by Bitcoin miners, as Texas has become one of the most popular jurisdictions for Bitcoin miners in the world due to its favorable tax regime, robust economy, and abundant energy. NABA’s formation marks a move toward greater policy unity in the U.S. blockchain industry and hopes to have a greater influence on federal cryptocurrency policies in the future.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Blockchain associations have jointly formed the North American Blockchain Association (NABA) to provide the federal government with cohesive crypto policy recommendations.
NABA members include the Texas Blockchain Council, the Alabama Blockchain Alliance, the California Blockchain Advocacy Coalition, the Florida Blockchain Business Association, the Ohio Blockchain Council, the Pennsylvania Blockchain Alliance, the Virginia Blockchain Council, and the Washington Technology Industry Association's Cascadia Blockchain Council.
NABA's formation comes in response to the Biden administration's regulatory policies on cryptocurrencies, and to offer more friendly crypto policy recommendations than the Trump administration.
The formation of NABA will help advance the U.S. cryptocurrency industry and provide a more stable policy environment for it.