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Falcon Global Capital Registers to Lobby Congress on Bitcoin

Avatar Jayanand Sagar 5 years ago

There isn’t any doubt that big companies like VISA and MasterCard have troops of lobbyists in Washington, D.C. looking after their interests.

But a San Diego-based investment firm that focuses exclusively on bitcoin — Falcon Global Capital — is working to even the balance of power.

Company managing director Brett Stapper has moved to file paperwork (as of 22 May) to lobby Congress and other federal agencies, according to an LD-1 disclosure, a form used to register as a lobby.

According to the form, specific lobbying issues include the “Education and understanding of Bitcoin and other crypto-graphic based currencies.”

So, what does Falcon Global Capital do on the business sides of things? Here’s a description, as provided on their website:

Falcon Global Capital LLC allows accredited investors to acquire large amounts of Bitcoins ranging from $25,000 to $10,000,000 with ease and peace of mind. Bitcoin is notoriously challenging to acquire and even more challenging to protect. Our service aims to resolve both issues. Similar to a gold hedge fund, Falcon Global Capital LLC facilitates investor’s exposure to Bitcoin by purchasing and storing Bitcoins on their behalf. Falcon Global Capital LLC then stores Bitcoins in an industry-leading secure digital vault which is fully insured against digital theft – a major challenge within the Bitcoin industry.

The move makes sense. As multi-national firms have their own interests to protect on Capitol Hill, so does Falcon — which at the same time will hopefully benefit the bitcoin community.

After all, as bitcoin continues its spectacular growth, there will be (no doubt) entities that will try their hardest to bring it down.

Certainly, what Congress needs is education and understanding on bitcoin.

Not terribly long ago, Virginia Senator Joe Manchin (D) demanded that federal regulators ban bitcoin due to the potential of it being used for illicit practices.

Colleague Jared Polis, a Representative from Colorado, fired back by demanding a U.S. dollar ban, for the very same reasons.

Joe Manchin has since said he may be thinking differently about the digital currency since his February letter.

[textmarker color=”C24000″]Source[/textmarker] The Hill

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