Coinbase Joins the Internet Association, Becomes the First Bitcoin Company to Do So

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Coinbase Joins the Internet Association, Becomes the First Bitcoin Company to Do So

Coinbase has become the first Bitcoin company to join the Internet Association or IA. Thus, it has become a part of a Washington, DC based public policy group that lobbies regulators on Internet freedom and innovation. Millions of users around the world use Internet to express their views for and against the authorities; however, this freedom is facing challenge, now.

Launched in 2012, the Internet Association boasts founding members including Amazon, eBay, Facebook and Google and more than 40 general members including Airbnb, Lyft and Uber. The addition of Coinbase to the list is further showing the fact that Bitcoin is being considered important factor in the world of Internet and it is closely associated with freedom and liberty.

Nevertheless, the Internet Association represents America’s leading Internet companies and their global community of users who play vital role in the way policies regarding the regulation of online activities are framed. The group is dedicated to advancing public policy solutions to strengthen and protect Internet freedom.

According to the official announcement of the Internet Association the fundamental aim of the group is to foster innovation and economic growth and empower users. The CEO of the group Michael Beckerman framed the announcement as one that will find his organization continuing its efforts to take on issues facing all disruptive Internet startups.

Thus, it looks like the group will also be fighting for the cause of Bitcoin and all the stakeholders who have been working tirelessly to ensure the virtual currency system functions well. Michael Beckerman says that Bitcoin-related issues that may have a wider impact will also be raised with the authorities to get the right solution.

The Organization Will Raise the Issues Faced by Bitcoin Startups

Talking to media professionals Beckerman said that the idea of an emerging internet technology would be discriminated against or couldn’t compete because of policy or regulatory issues. This according to his is something all of the member companies care about.

There is huge ambiguity regarding the regulation of Bitcoin that must be sorted out swiftly. Beckerman compares the struggles faced by Coinbase and the Bitcoin industry at large to those his firm is helping ridesharing firms and cloud companies to overcome.

Nonetheless, similar views were also shared by John Collins, head of government affairs at Coinbase who cited IA’s role in helping regulators adapt outdated laws as a key factor behind the company’s decision to join the organization.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com