Gemini Joins Coinbase and Block on the Crypto Council for Innovation

The Crypto Council for Innovation, or CCI, has announced that Gemini will join its list of companies pursuing cryptocurrencies with the aim of supporting lawmakers on related regulation..

In an announcement Thursday, the ITC said that, as of this week, Gemini has United to Coinbase, Block, Fidelity Digital Assets, Paradigm, and others in an effort to “help accelerate the growth [del grupo] and global leadership, according to CEO Sheila Warren. Gemini’s head of policy and regulatory affairs, Ji Kim, said that the exchange will work with legislators and regulators to help promote cryptocurrency adoption around the world.

Formed in April 2021 by Coinbase and Square -now Block-, the ICC intended to open a dialogue with governments and regulatory agencies about the benefits of cryptocurrencies. The group organized a virtual event in July 2021 on the adoption of bitcoin (BTC) called The ₿ Word, which featured speakers including Tesla CEO Elon Musk and Jack Dorsey. Warren, formerly head of blockchain and distributed ledger technology at the World Economic Forum, took over as ICC CEO in February..

In addition to his efforts with the ITC, Coinbase has emerged as one of the largest spenders in the United States pushing for crypto-friendly legislation in Congress.. The exchange reportedly increased its lobbying expenses by more than 460% from 2020 to 2021, from $230,000 to approximately $1.3 million, respectively.

Before joining CCI, Gemini did not report any spending on lobbying activities in the United States in 2020. However, public records through the United States Senate show that the exchange declared $120,000 spent in the third and fourth quarters of 2021 contracted with the Sternhell Group. alex sternhella former senior political adviser to the Senate Banking Committee, is the principal behind the Washington-based public relations firm.

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