The State of Crypto Regulation | Jake Chervinsky (SotN 8/17)

Lobbying Efforts

The crypto industry is actively lobbying to influence legislative changes and support crypto-friendly policies. Jake Chervinsky emphasizes the importance of presenting strong arguments and evidence to sway undecided politicians like Senator Warren, who initially proposed a problematic amendment. He suggests that the industry must demonstrate real-world benefits of crypto to counter negative narratives like money laundering 1.

We just have to do a better job of articulating our position.

--- Jake Chervinsky

Additionally, Chervinsky highlights the need for financial support for candidates who back pro-crypto policies, especially during primary elections 1.

   

Coalition Building

Building coalitions within the crypto industry is crucial for presenting a unified front in policy advocacy. Jake Chervinsky describes how various stakeholders, including policy organizations like Coin Center and the Blockchain Association, coordinated efforts to address legislative challenges 2. This collaboration was essential in overcoming internal disputes and focusing on common goals.

The entire industry basically, without exception, got together and coordinated to fight this.

--- Jake Chervinsky

Chervinsky also discusses the differing stances of politicians like Senators Warren and Lumis, highlighting the importance of understanding their incentives and aligning them with crypto-friendly policies 3.

   

Active Participation

Effective advocacy requires active participation from individuals and companies in the crypto community. Jake Chervinsky advises making phone calls and engaging on social media to influence regulators, as these methods have proven more effective than emails 4. He encourages staying informed and participating in the political process, especially for US crypto companies whose voices carry significant weight.

Calls are way more effective than emails.

--- Jake Chervinsky

Chervinsky also stresses the importance of coordinating with established policy infrastructures in DC to ensure a unified and strategic approach to lobbying efforts 5.