Crypto Giants Team Up to Shape Policy Through New Nonprofit

Big names in the crypto world, like Coinbase, DCG, and Kraken, have joined forces to create a new nonprofit. They call it the American Innovation Project (AIP). Its goal? To teach policymakers about decentralized tech. As a 501(c)(3), AIP won't pay most taxes and its leaders won't be held personally responsible for its actions. But there's a catch: it can't focus much on changing laws. The AIP isn't the first group trying to influence crypto policy in Washington. But it is different. It plans to talk directly to lawmakers and their teams. Julie Stitzel, a policy expert at DCG, says AIP will explain complex tech in simple ways. She also says AIP will work alongside other groups. But she insists AIP will stay neutral and focus only on education. The AIP's board includes some well-known figures in crypto lobbying. Kristin Smith from the Solana Policy Institute and Allie Page from the Blockchain Association are on it. So is Nick Carr from Coinbase. Most of these people are meeting in Jackson Hole, Wyoming. They're at a crypto policy summit. Big names like Senate Banking Committee chair Tim Scott and SEC chair Paul Atkins are there too. The AIP is already planning its first event. It will be an off-the-record meeting in Jackson Hole. But the group won't say who will attend or what they'll talk about. This secrecy raises questions. Will the AIP really stay neutral? Or will it push for policies that benefit its backers? Only time will tell.