Based in Washington D.C., the IA was launched in 2012 and regulates Internet freedom and innovation, and Coinbase is now the first bitcoin company to enter into an agreement with the organization and have a “regulation say.”
CEO of the Internet Association Michael Beckerman explains that he is looking forward to having the bitcoin company’s support in the future, and is looking to continue the group’s efforts to help and aid Internet startups:
“The idea of an emerging Internet technology would be discriminated against or couldn’t compete because of policy or regulatory issues; that is something all of our companies care about.”
Beckerman acknowledges that the problems faced by Coinbase and other bitcoin-related companies are indeed large, and he mentions that the association is looking to devote the necessary time towards fixing the issues at hand and making the bitcoin environment easier for all. He also states that the IA is very selective of who is chosen to join, but that Coinbase was a perfect match due to their willingness to be a productive part in the future of the Internet:
“Coinbase is a leader in the field of digital currency, and their track-record of expansion and innovation makes them an exciting and welcome addition to the Internet Association… We look forward to working with Coinbase and harnessing their insights about the role of digital currency and online payment systems in our Internet economy.”
John Collins, the head of government affairs at Coinbase, says that the IA’s ability to adapt outdated laws was the primary reason behind entering an agreement with the organization:
“Bitcoin is currency built for the Internet… We’re investing a lot in helping policy makers to set the policies of decentralized networks, like the bitcoin protocol… That’s something that IA has a lot of experience in and we think they can help us… Our vision for bitcoin as a free and open, global payments system aligns with IA’s own commitment to online freedom and innovation, and we look forward to furthering that mission as a member.”
Coinbase currently has 38,000 merchants and over 2.5 million people signed up for its services.