Former Obama aide joins Blockchain.com board

Former Obama administration aide Jim Messina has joined the board of Blockchain.com, the cryptocurrency wallet provider.

As one of the earliest and most respected crypto companies in the world, @blockchain recognizes its responsibility to lead the industry and help shape the future of finance. Excited to join its Board of Directors to play a role in such an impactful space. https://t.co/paNxjVT3sB

— Jim Messina (March 10, 2021)

Messina’s duties will include developing new standards and rules for the digital-asset market.

“The crypto market was the Wild West, and now it’s time to regulate it,” he said.

Messina predicts that in the future most transactions will be conducted with digital currencies:

“It is incredibly important for us to develop the regulatory part of this process.”

Blockchain.com said that the partnership with Messina will position the company as a key player in the market.

“We do not want cryptocurrency to be a fly-by-night market. This market must be transparent, regulated, and well-served for customers,” said Peter Smith, the company’s CEO.

In 2012, Messina worked on Barack Obama’s campaign and as deputy White House chief of staff. For a year he has been involved in cryptocurrency trading.

In January 2021, President Joe Biden paused the implementation of FinCEN’s proposal for verification of users of non-custodial wallets. It would have required collecting personal information about parties to deals and transactions of crypto companies.

Representatives from a16z, Coinbase and Square CEO Jack Dorsey called these rules devastating for the industry.

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