With more than a dozen U.S. crypto policy groups crowding the offices of Washington's lawmakers and regulators, the launch of another new organization on Tuesday — the American Innovation Project — may leave it with a brisk fight to draw attention. But AIP is pursuing the niche of educational events for those making crypto policies.
Because the group is being set up as a nonprofit 501(c)(3) and not a lobbying organization, the nonpartisan effort may make it easier for U.S. lawmakers to interact with and travel to its events, and donors (who can give crypto assets) could get some tax benefits.
The new group arrives in an advocacy field full of such names as the Digital Chamber, Blockchain Association, Crypto Council for Innovation, DeFi Education Fund, Solana Policy Institute and the well-funded new entry backed by Ripple: the National Cryptocurrency Association. But AIP will focus on "policy roundtables, innovation summits, workshops and trainings," according to its website.
API's opening event is a summit this week in Jackson Hole, Wyoming, on August 21, overlapping with the Wyoming Blockchain Symposium.
The new nonprofit was backed with cash from crypto venture capital firm Digital Currency Group and by Cedar Innovation Foundation, a crypto industry dark-money group whose funders are anonymous. Other supporters include Coinbase, Kraken, Andreessen Horowitz, National Cryptocurrency Association, Paradigm, Solana Policy Institute, Stand With Crypto and Uniswap Labs, according to the organization.
“The American Innovation Project offers a nonpartisan forum where lawmakers, innovators, and entrepreneurs can collaborate on thoughtful, forward-looking discussions and solutions," said Mark Murphy, president of DCG, in a statement.
Its board is led by Kristin Smith, the recently departed leader of the Blockchain Association who is now president at the Solana Policy Institute. Other board members come from those organizations and DCG, Paradigm and Coinbase.
"Our mission is simple, but urgent: We must equip America’s leaders with the knowledge, context, and tools they need as they consider timely rules and regulations that meet the moment and account for a rapidly evolving technological landscape,” Smith said in a statement.
The industry's many lobbying arms have been closely engaged on influencing the emerging crypto policies from Congress and the federal regulators, supported by President Donald Trump as he seeks to secure the U.S. as the leading hub for global digital assets activity.
Read More: U.S. Crypto Lobbyists Flooding the Zone, But Are There Too Many?
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