The Crypto Council for Innovation's has a strategic response to a changing regulatory landscape through key hires and the onboarding of influential firms like Circle and the Solana Foundation.
Henry Russell
The Crypto Council for Innovation, a Washington D.C.-based industry alliance shaping crypto policy, welcomed two strategic hires and two prominent firms this week, signaling intensified efforts as the regulatory landscape evolves. Ryan Eagen, formerly of Senate Majority Leader Chuck Schumer's office, joins as Associate Director of Government Affairs, while Patrick Kirby, with experience at Dentons law firm, takes on the role of Policy Counsel.
These appointments come amidst a pivotal period for crypto policy. The recent approval of spot Bitcoin ETFs in the US marks a victory for advocates, while the European Union edges closer to implementing stricter AML regulations. Additionally, the 2024 presidential election adds another layer of complexity, with the recent departure of crypto-focused GOP candidate Vivek Ramaswamy highlighting the dynamic political landscape.
Beyond the internal expansion, the Crypto Council further bolstered its ranks with the addition of Circle, the issuer of USD Coin, and the Solana Foundation, the non-profit supporting the Solana blockchain. Their arrival positions the Council as a central hub for major players in the industry, encompassing established firms like Andreessen Horowitz and Fidelity Digital Assets alongside burgeoning innovators like Solana.
Circle and Solana expressed their commitment to contributing to responsible innovation and sensible Web3 regulations. "We are proud to join @crypto_council and share our perspective and commitment to responsible growth of open money," Circle tweeted. The Solana Foundation echoed this sentiment, stating, "As part of @crypto_council, the Foundation looks forward to collaborating on responsible innovation, advocating for sensible Web3 regulations, and advancing blockchain for social good."
These developments suggest an increasingly collaborative approach within the crypto industry, aiming to influence a dynamic policy landscape. With key hires, influential new members, and a crucial election year ahead, the Crypto Council for Innovation is poised to play a central role in shaping the future of crypto regulation and adoption.
