Investment firm Grayscale has donated $ 1 million to Coin Center, a non-profit organization to promote and protect the interests of the crypto industry.
According to a January 25 press release, Grayscale plans to raise another $ 1 million for Coin Center by the end of February. In 2016, the organization received $ 1 million from several representatives of the crypto industry. In 2018, the Kraken crypto exchange donated $ 1 million to Coin Center.
“The Coin Center has played a key role in advocating for issues that directly affect the cryptocurrency ecosystem,” Grayscale said. "Over the past two months, Coin Center has sent out two strong comment emails that have been key to addressing issues related to the Financial Crime Combating Network (FinCEN) proposals that could have a serious negative impact on wallet users and the entire digital currency industry."
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Coin Center is a think tank that discusses digital asset and blockchain regulatory issues. “Regulators must have a fundamental knowledge of the industry to be able to make informed decisions,” writes Grayscale.
Neeraj Agrawal, Director of Public Affairs at Coin Center, said: "We are going to use these funds to continue to represent Bitcoin, Ethereum, and other cryptocurrencies in Washington."
In 2021, Coin Center plans to focus on financial privacy and “smarter tax policies”.