The Blockchain Association was founded in 2018 by a group of crypto-native companies — exchanges, protocols, and investment firms — seeking dedicated Washington DC representation for the crypto industry’s perspective on emerging regulatory questions. Under CEO Kristin Smith (2019-2024), the organization became the most aggressive and legally active industry voice in crypto regulation, distinguishing itself from the Chamber of Digital Commerce through a more confrontational approach to SEC enforcement and a deeper engagement in litigation.
Founding and Structure
The Association was founded with an initial membership including Coinbase, Kraken, Gemini, and several venture capital firms active in crypto (Andreessen Horowitz crypto fund a16z, Blockchain Capital, Paradigm). Membership has grown to 100+ companies across exchanges, infrastructure providers, protocol developers, and investors. Unlike SIFMA (which represents traditional finance with digital asset interests) or the Chamber (focused on education and broad advocacy), the Blockchain Association’s membership is primarily crypto-native — companies whose core business is cryptocurrency.
This membership base shapes the organization’s priorities: defending the right of crypto-native businesses to operate under appropriate (not necessarily SEC-dominant) regulation, supporting CFTC jurisdiction over commodity-like digital assets, and protecting the ability of DeFi protocols and blockchain infrastructure to function without broker-dealer registration.
Litigation Support
The Blockchain Association’s most distinctive function is its legal defense infrastructure. The organization coordinates amicus brief filings in major crypto litigation, enabling member companies and the broader industry to present unified legal arguments to courts considering crypto cases.
Notable litigation involvement:
Coinbase v. SEC: After the SEC sued Coinbase in June 2023 (alleging Coinbase operated as an unregistered securities exchange, broker, and clearing agency), the Blockchain Association filed detailed amicus briefs supporting Coinbase’s position that its listed tokens were not securities requiring exchange registration.
Ripple (XRP) case: The Association filed amicus support for Ripple’s argument that XRP sales to institutional buyers were securities but sales to retail buyers on exchanges were not — a theory the SDNY partially accepted in its July 2023 ruling, providing the clearest federal court guidance on secondary market crypto sales.
Grayscale v. SEC: The Association supported Grayscale’s challenge to SEC’s rejection of its Bitcoin ETF application, ultimately vindicated when the D.C. Circuit ruled the SEC’s differential treatment of futures ETFs and spot ETFs was arbitrary and capricious (August 2023).
Regulatory Comment Letters
The Blockchain Association submits detailed comments on every major SEC, CFTC, FinCEN, and Treasury digital asset rulemaking. Key positions:
FinCEN unhosted wallet rule (2021): The Association led the industry coalition opposing FinCEN’s proposed KYC requirements for transfers to unhosted wallets, submitting comments from tens of thousands of individuals and organizations. The rule was withdrawn.
SEC broker-dealer custody rule: Opposed the SEC’s proposed rule that would have restricted SEC-registered investment advisers from maintaining digital asset custody with non-bank custodians.
Crypto reporting requirements (IIJA): The Association opposed provisions in the Infrastructure Investment and Jobs Act (2021) that defined “broker” broadly enough to potentially include blockchain miners and validators — entities that do not have customer relationships and cannot collect required tax information.
Policy Summit
The Blockchain Association’s annual Policy Summit convenes members, Congressional staff, and regulators for education and advocacy sessions. Unlike the Chamber’s broader Summit, the BA’s event is more focused on specific legislative and enforcement issues affecting the crypto-native industry. Sessions typically include former SEC and CFTC officials discussing regulatory interpretations and Congressional members discussing pending legislation.
Under New Leadership
Kristin Smith departed as CEO in mid-2024. The Association has continued its advocacy trajectory under new leadership, maintaining focus on the FIT21 Senate pathway, GENIUS Act stablecoin legislation, and ongoing SEC enforcement litigation. The organization’s legal defense function — providing resources and coordination for member companies fighting SEC enforcement — remains its most distinctive institutional contribution to the crypto regulatory landscape.