NVCA Defends Blockchain Innovation in Letter to House Rep.

WASHINGTON, DC – The National Venture Capital Association (NVCA) today sent a letter to Rep. Sylvia Garcia (D-TX) to engage in the dialogue regarding the Managed Stablecoins are Securities Act.

“The Managed Stablecoins are Securities Act would unintentionally damage the process of early adoption of blockchain technology. Imposing an overly broad definition of ‘stablecoin’ will inadvertently sweep in numerous startup projects, though they are likely not the intended targets of the legislation,” said Bobby Franklin, President & CEO of NVCA. “We look forward to working with Rep. Garcia to develop an effective regulatory regime for blockchain technology that gives the United States an opportunity to be a leader in this field while improving investor protection.”

Read the NVCA Blockchain Working Group’s letter here.

The NVCA Blockchain Working Group brings together venture capital investors and the blockchain entrepreneurs they support to engage in the dynamic public policy conversations surrounding the emerging technology.

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The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the US venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about NVCA, please visit www.nvca.org.