JAKARTA – The Crypto Council for Innovation, or CCI (The Crypto Council for Innovation), has announced that Gemini will join a list of crypto-friendly companies aimed at supporting lawmakers on related regulations in the US.
According to CCI CEO, Sheila Warren, in a Thursday, February 24 announcement, CCI said that effective this week Gemini has joined forces with Coinbase, Block, Fidelity Digital Assets, Paradigm, and others in an effort to “help accelerate the [group] growth and global leadership.” , "
Thrilled that @Gemini has joined us at @crypto_council. Welcome! https://t.co/fEYIkIQklt
— Sheila Warren (@sheila_warren) February 24, 2022
Gemini's head of policy and regulatory affairs Ji Kim said the exchange would work with lawmakers and regulators to further assist crypto adoption worldwide.
Formed in April 2021 by Coinbase and Square, now renamed Block, CCI aims to open a dialogue with governments and financial regulatory bodies about the benefits of crypto. The group held a virtual event in July 2021 on Bitcoin (BTC) adoption called The Word, which featured speakers including Tesla CEO Elon Musk and Jack Dorsey.
Warren, former head of blockchain and distributed ledger technology at the World Economic Forum, took over as CEO at CCI in February.
In addition to its efforts with CCI, Coinbase, as reported by Cointelegraph, has emerged as one of the largest spenders in the United States lobbying for crypto-friendly legislation in Congress.
The cryptocurrency exchange agency is reported to have increased lobbying spend by more than 460% from 2020 to 2021. Each from US$230,000 to around US$1.3 million.
Prior to joining CCI, Gemini did not report any spending on lobbying activities in the US in 2020. However, public records via the US Senate show that the exchange stated that $120,000 was spent in the third and fourth quarters of 2021 on contracts with the Sternhell Group, the agency. lobbyist.
Alex Sternhell, former senior policy adviser to the Senate Banking Committee, is the head behind the Washington DC-based public relations firm.
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