Grayscale Investments donates $1 million to Coin Center to defend crypto-industry interests.

Grayscale Investments, the asset-management firm, donated $1 million to Coin Center, the advocacy and policy group for the cryptocurrency industry.

\n

\n

\n

#JoinTheMatch: We’re donating $1 million to @coincenter and pledging to match up to an additional $1 million in donations through the month of February.

\n

You can match our donation here. ⬇️https://t.co/pNf6wNoCPi pic.twitter.com/Ptsiz6RIs2

\n

— Grayscale (@Grayscale) January 25, 2021

\n

\n

The firm also pledged to raise up to $1 million in donations during February 2021.

\n

Grayscale chief Michael Sonnenshein called support for sensible regulation the responsibility of all players in the cryptocurrency industry. He said Coin Center had played a key role in pushing back against the Trump administration’s proposed user-verification measures for non-custodial wallets.

\n

\n

Recently, Coin Center played a key role in correcting issues in proposed rulemaking by FinCEN that would have had serious negative consequences for self-hosted wallet users and the digital currency industry at large.

\n

— Michael Sonnenshein (@Sonnenshein) January 25, 2021

\n

\n

Regulatory changes proposed the collection of personal information about counterparties to deals and transactions of cryptocurrency companies. Representatives of a16z, Coinbase and Square’s CEO Jack Dorsey called these norms devastating for the cryptocurrency industry.

\n

Back on January 21, 2021, U.S. President Joe Biden froze the rollout of the initiative.

\n

In 2018 Coin Center received $1 million in donations from the cryptocurrency exchange Kraken.

\n

Back on January 18, Grayscale increased the Bitcoin Trust by 16 244 BTC worth nearly $600 million. Over the week the company raised record $1.2 billion for the fund.

\n

Follow ForkLog on Telegram: ForkLog FEED — the full feed of news, ForkLog — the most important news and polls.