Blockchain Association
Non profit organizations promoting blockchain applications
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Project Overview
Blockchain Association the leading nonprofit organization dedicated to promoting a pro-innovation policy environment for the digital asset economy. They work with their members to educate policymakers about blockchain technology and its ability to pave the way for a more secure, competitive, and consumer-friendly digital marketplace.
Blockchain Association Supports Custodia Bank's Application to Supreme Court for Federal Reserve Master Account Access
According to The Block, the Blockchain Association filed an amicus curiae brief on August 13 supporting Custodia Bank's appeal to the U.S. Supreme Court, requesting a review of the legality of the Federal Reserve Bank's refusal of its master account application. The Blockchain Association pointed out that this case concerns whether legitimate digital asset enterprises can compete in a fair environment, and warned that the lower court ruling provides a precedent for federal regulators "to debank unpopular industries in the future without the intervention of state regulators." Custodia Bank was founded by Wall Street veteran Caitlin Long, applied for a Fed master account in October 2020, was rejected by the Federal Reserve Bank of Kansas City in January 2023 on the grounds that the crypto business model posed risks, subsequently lost twice in the district court and the Tenth Circuit Court of Appeals, and was denied rehearing by the full court in a 7 to 3 vote in March 2026. The Federal Reserve Bank of Kansas City must respond to the Supreme Court application by September 11.
Blockchain Association Refutes Wall Street Journal: Clarity Act Is Pro-Innovation Legislation Promoting Competition, Not A Regulatory Loophole
Mersinger pointed out that the bill explicitly prohibits the portion of stablecoin holding rewards equivalent to bank deposit interest, but allows reward mechanisms based on user activity, consistent with the credit card points model; regarding DeFi regulation, Section 10301 of the bill requires the SEC to establish rules for protocols that are "nominally decentralized, substantially controllable," rather than exempting them, while Section 10201 has incorporated digital commodity brokers into the full reporting obligations under the "Bank Secrecy Act" and allocated $3 billion to support state-level enforcement, contrary to the "Wall Street Journal"'s claim of "inadequate regulation of illicit finance."
Blockchain Association CEO: Clarity Act Prohibits Payments Solely for Holding Stablecoins
Odaily News: Summer Mersinger, CEO of the Blockchain Association and former Commissioner of the U.S. Commodity Futures Trading Commission (CFTC), stated that the Clarity Act prohibits payments made solely for holding stablecoins, as well as programs that are economically or functionally equivalent to interest on bank deposits, with penalties attached to such attempts in the text. She noted that an August 4 editorial on the Clarity Act acknowledged that the bill would end the regulatory gray area left by the previous administration, provide investors and banks with rules that future governments cannot arbitrarily overturn, and open pathways for innovations such as tokenized stocks and bonds.
Blockchain Association rebuts National Sheriffs' Association, says Clarity Act will not weaken law enforcement
Odaily News: The U.S. crypto industry group Blockchain Association wrote to Senate Majority Leader John Thune and Minority Leader Chuck Schumer on Monday, rebutting the National Sheriffs' Association's (NSA) previous criticism of the Clarity Act, arguing that the latter misunderstands the bill's design for DeFi regulation.Last week, the NSA wrote to Senate leadership, claiming that the Clarity Act's exemptions for DeFi regarding anti-money laundering, sanctions compliance, and KYC rules are too broad, potentially making it harder for law enforcement to combat financial crime. Representing over 3,000 sheriffs and 10,000 public safety officials, the NSA's stance has intensified the controversy surrounding the bill ahead of its advancement in the Senate.Blockchain Association, in response, stated that the Clarity Act does not grant the crypto industry a "blanket exemption" but instead imposes strict obligations on intermediaries while equipping law enforcement with tools to combat financial crime. Lindsay Fraser, the group's Chief Policy Officer, said that with the Senate vote approaching, it is necessary to correct the misunderstandings surrounding the bill.
Digital Chamber and other crypto organizations urge the U.S. Senate to advance the Clarity Act
Odaily News: Fox Business crypto reporter posted on platform X that Digital Chamber, Crypto Council, and Blockchain Association are urging U.S. Senate leadership to bring the Clarity Act to a full floor vote, despite the bill currently lacking the necessary support for advancement.
CLARITY Act could remove Section 604 or expose non-custodial developers to Bank Secrecy Act obligations
one year after the U.S. House of Representatives passed the Clarity for Digital Assets Act (CLARITY Act), the bill remains stalled in the Senate, facing opposition from the banking industry and partisan divisions. Supporters anticipate a potential vote before the Senate's August recess. Industry organizations Coin Center and the Blockchain Association have identified Section 604 as a key provision for protecting open-source innovation. This provision aims to prevent non-custodial blockchain developers, node operators, and validators from being classified as federal money transmitters. Stefan Muehlbauer, Head of U.S. Government Affairs at CertiK, stated that removing Section 604 could conflate software development with financial services, subjecting developers to the Bank Secrecy Act and triggering First Amendment-related constitutional challenges. Iana Dimitrova, CEO of Openpayd, noted that the expanding use of stablecoins for cross-border value transfer has made the need for a federal regulatory framework more apparent. The bill also addresses accounting standards, acknowledges the rescission of SEC Staff Accounting Bulletin SAB 121, and prohibits the SEC from reimposing equivalent crypto custody accounting requirements without a full notice-and-comment rulemaking process. Mark Zalan, CEO of Gomining, pointed out that Bitcoin still faces regulatory gaps, such as tax treatment.
The Blockchain Association Supports U.S. SEC Rescinding Certain Outdated NMS Rules
The Blockchain Association stated that it has submitted a comment letter to the U.S. Securities and Exchange Commission, supporting its proposal to rescind Rule 611 and Rule 610(e) under Regulation National Market System. The association believes that the relevant rules were based on the 2005 market structure and are no longer able to adapt to the current faster, automated, and interconnected market environment.
Blockchain Association Supports Custodia v. Federal Reserve Case to Supreme Court
The Blockchain Association filed an amicus curiae brief with the Supreme Court supporting Custodia Bank's challenge to the Federal Reserve's decision to deny its master account application, with the dispute centering on whether the Federal Reserve has the authority to deny qualified state-chartered banks access to payment systems.
Blockchain Association Supports Custodia Bank's Application to Supreme Court for Federal Reserve Master Account Access
According to The Block, the Blockchain Association filed an amicus curiae brief on August 13 supporting Custodia Bank's appeal to the U.S. Supreme Court, requesting a review of the legality of the Federal Reserve Bank's refusal of its master account application. The Blockchain Association pointed out that this case concerns whether legitimate digital asset enterprises can compete in a fair environment, and warned that the lower court ruling provides a precedent for federal regulators "to debank unpopular industries in the future without the intervention of state regulators." Custodia Bank was founded by Wall Street veteran Caitlin Long, applied for a Fed master account in October 2020, was rejected by the Federal Reserve Bank of Kansas City in January 2023 on the grounds that the crypto business model posed risks, subsequently lost twice in the district court and the Tenth Circuit Court of Appeals, and was denied rehearing by the full court in a 7 to 3 vote in March 2026. The Federal Reserve Bank of Kansas City must respond to the Supreme Court application by September 11.
Blockchain Association Refutes Wall Street Journal: Clarity Act Is Pro-Innovation Legislation Promoting Competition, Not A Regulatory Loophole
Mersinger pointed out that the bill explicitly prohibits the portion of stablecoin holding rewards equivalent to bank deposit interest, but allows reward mechanisms based on user activity, consistent with the credit card points model; regarding DeFi regulation, Section 10301 of the bill requires the SEC to establish rules for protocols that are "nominally decentralized, substantially controllable," rather than exempting them, while Section 10201 has incorporated digital commodity brokers into the full reporting obligations under the "Bank Secrecy Act" and allocated $3 billion to support state-level enforcement, contrary to the "Wall Street Journal"'s claim of "inadequate regulation of illicit finance."
Digital Chamber and other crypto organizations urge the U.S. Senate to advance the Clarity Act
Odaily News: Fox Business crypto reporter posted on platform X that Digital Chamber, Crypto Council, and Blockchain Association are urging U.S. Senate leadership to bring the Clarity Act to a full floor vote, despite the bill currently lacking the necessary support for advancement.
CLARITY Act could remove Section 604 or expose non-custodial developers to Bank Secrecy Act obligations
one year after the U.S. House of Representatives passed the Clarity for Digital Assets Act (CLARITY Act), the bill remains stalled in the Senate, facing opposition from the banking industry and partisan divisions. Supporters anticipate a potential vote before the Senate's August recess. Industry organizations Coin Center and the Blockchain Association have identified Section 604 as a key provision for protecting open-source innovation. This provision aims to prevent non-custodial blockchain developers, node operators, and validators from being classified as federal money transmitters. Stefan Muehlbauer, Head of U.S. Government Affairs at CertiK, stated that removing Section 604 could conflate software development with financial services, subjecting developers to the Bank Secrecy Act and triggering First Amendment-related constitutional challenges. Iana Dimitrova, CEO of Openpayd, noted that the expanding use of stablecoins for cross-border value transfer has made the need for a federal regulatory framework more apparent. The bill also addresses accounting standards, acknowledges the rescission of SEC Staff Accounting Bulletin SAB 121, and prohibits the SEC from reimposing equivalent crypto custody accounting requirements without a full notice-and-comment rulemaking process. Mark Zalan, CEO of Gomining, pointed out that Bitcoin still faces regulatory gaps, such as tax treatment.
Related news
The Blockchain Association Supports U.S. SEC Rescinding Certain Outdated NMS Rules
The Blockchain Association stated that it has submitted a comment letter to the U.S. Securities and Exchange Commission, supporting its proposal to rescind Rule 611 and Rule 610(e) under Regulation National Market System. The association believes that the relevant rules were based on the 2005 market structure and are no longer able to adapt to the current faster, automated, and interconnected market environment.
Blockchain Association Supports Custodia v. Federal Reserve Case to Supreme Court
The Blockchain Association filed an amicus curiae brief with the Supreme Court supporting Custodia Bank's challenge to the Federal Reserve's decision to deny its master account application, with the dispute centering on whether the Federal Reserve has the authority to deny qualified state-chartered banks access to payment systems.
Blockchain Association Supports Custodia Bank's Application to Supreme Court for Federal Reserve Master Account Access
According to The Block, the Blockchain Association filed an amicus curiae brief on August 13 supporting Custodia Bank's appeal to the U.S. Supreme Court, requesting a review of the legality of the Federal Reserve Bank's refusal of its master account application. The Blockchain Association pointed out that this case concerns whether legitimate digital asset enterprises can compete in a fair environment, and warned that the lower court ruling provides a precedent for federal regulators "to debank unpopular industries in the future without the intervention of state regulators." Custodia Bank was founded by Wall Street veteran Caitlin Long, applied for a Fed master account in October 2020, was rejected by the Federal Reserve Bank of Kansas City in January 2023 on the grounds that the crypto business model posed risks, subsequently lost twice in the district court and the Tenth Circuit Court of Appeals, and was denied rehearing by the full court in a 7 to 3 vote in March 2026. The Federal Reserve Bank of Kansas City must respond to the Supreme Court application by September 11.
Blockchain Association Refutes Wall Street Journal: Clarity Act Is Pro-Innovation Legislation Promoting Competition, Not A Regulatory Loophole
Mersinger pointed out that the bill explicitly prohibits the portion of stablecoin holding rewards equivalent to bank deposit interest, but allows reward mechanisms based on user activity, consistent with the credit card points model; regarding DeFi regulation, Section 10301 of the bill requires the SEC to establish rules for protocols that are "nominally decentralized, substantially controllable," rather than exempting them, while Section 10201 has incorporated digital commodity brokers into the full reporting obligations under the "Bank Secrecy Act" and allocated $3 billion to support state-level enforcement, contrary to the "Wall Street Journal"'s claim of "inadequate regulation of illicit finance."
Blockchain Association CEO: Clarity Act Prohibits Payments Solely for Holding Stablecoins
Odaily News: Summer Mersinger, CEO of the Blockchain Association and former Commissioner of the U.S. Commodity Futures Trading Commission (CFTC), stated that the Clarity Act prohibits payments made solely for holding stablecoins, as well as programs that are economically or functionally equivalent to interest on bank deposits, with penalties attached to such attempts in the text. She noted that an August 4 editorial on the Clarity Act acknowledged that the bill would end the regulatory gray area left by the previous administration, provide investors and banks with rules that future governments cannot arbitrarily overturn, and open pathways for innovations such as tokenized stocks and bonds.
Blockchain Association rebuts National Sheriffs' Association, says Clarity Act will not weaken law enforcement
Odaily News: The U.S. crypto industry group Blockchain Association wrote to Senate Majority Leader John Thune and Minority Leader Chuck Schumer on Monday, rebutting the National Sheriffs' Association's (NSA) previous criticism of the Clarity Act, arguing that the latter misunderstands the bill's design for DeFi regulation.Last week, the NSA wrote to Senate leadership, claiming that the Clarity Act's exemptions for DeFi regarding anti-money laundering, sanctions compliance, and KYC rules are too broad, potentially making it harder for law enforcement to combat financial crime. Representing over 3,000 sheriffs and 10,000 public safety officials, the NSA's stance has intensified the controversy surrounding the bill ahead of its advancement in the Senate.Blockchain Association, in response, stated that the Clarity Act does not grant the crypto industry a "blanket exemption" but instead imposes strict obligations on intermediaries while equipping law enforcement with tools to combat financial crime. Lindsay Fraser, the group's Chief Policy Officer, said that with the Senate vote approaching, it is necessary to correct the misunderstandings surrounding the bill.