Asset manager Grayscale Investments has donated $ 1 million to Coin Center, an organization to promote and protect the interests of the cryptocurrency industry.
You can match our donation here. ⬇️https: //t.co/pNf6wNoCPi pic.twitter.com/Ptsiz6RIs2
– Grayscale (@Grayscale) January 25, 2021
The company also promised to raise up to $ 1 million in donations during February 2021.
Grayscale CEO Michael Sonnenschein called supporting prudent regulation the responsibility of all representatives of the cryptocurrency industry. According to him, Coin Center played a key role in the fight against the measures proposed by the Donald Trump administration to verify users of non-custodial wallets.
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.
– Michael Sonnenshein (@Sonnenshein) January 25, 2021
Regulatory changes involved the collection of personal information about the parties to transactions and transactions of clients of cryptocurrency companies. Representatives of a16z, Coinbase and Square CEO Jack Dorsey called these regulations disastrous for the cryptocurrency industry.
On January 21, 2021, US President Joe Biden froze the initiative.
In 2018, Coin Center received $ 1 million in donations from the Kraken cryptocurrency exchange.
Recall that on January 18, Grayscale increased the assets of Bitcoin Trust by 16,244 BTC worth almost $ 600 million. Over the week, the company raised a record $ 1.2 billion to the fund.
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