According to insiders, renowned crypto lending company BlockFi has recruited lobbyists from Arnold & Porter Kaye Scholer LLP to focus on regulatory and tax policy for digital asset financial service providers.
With Arnold & Porter, BlockFi has formed a five-person policy team. Mark Epley, a partner at Arnold & Porter, and Kevin O’Neill, the firm’s Legislative and Public Policy Practice Group Chair, are on the team.
BlockFi has become the latest cryptocurrency company to recruit lobbyists, having hired Arnold & Porter.
Arnold & Porter, according to Epley, would act as BlockFi’s alter ego, assisting the corporation in lobbying legislators on industry issues.
He stated that legislators are not interested in hearing from individual market participants, but that lobbyists may assist in such discussions. Although Arnold & Porter has other clients interested in cryptocurrency, Epley stated that the firm is not presently advocating for any other firm.
According to a BlockFi representative, “proper regulation” is critical to the industry’s development.
The business is keen to cooperate with legislators to help establish the regulatory and tax framework for digital assets, according to the spokeswoman.
Several crypto firms, in addition to BlockFi, are lobbying. Coinbase, Ripple Labs, Blockchain Association, Stellar Development, Chamber of Digital Commerce, Coincenter, and Coinflip are just a handful of the companies involved.
To read our blog on “Future Fest Founder Arzish Azam represents Pakistan at BSV Global Blockchain Convention in Dubai,” click here.