- Ethereum lacks dedicated policy representation in Washington, unlike Ripple and Solana.
- Experts urge Ethereum to fund lobbying efforts to secure favorable regulations.
- Growing regulatory challenges make Ethereum’s presence in policy discussions crucial.
Ethereum’s missing policy representation at the upcoming crypto policy summit in Washington has triggered concerns over its regulatory influence.
Community members are pointing out that Ethereum needs dedicated lobbying efforts to present its interests in key policy making discussions.
Ethereum’s Voice in DC Policy Debates Questioned
Prominent voices in the crypto community, including DCinvestor and crypto lawyer Jake Chervinsky, have argued that Ethereum, despite pioneering blockchain innovation, doesn’t have a unified, singular entity defending its interests in regulatory discussions.
This has led to its reduced influence in Washington, D.C., especially compared to Solana and Ripple, which have dedicated lobbying efforts and a strong presence in the US political circle.
Nonprofits vs. Company Interests in Ethereum Advocacy
Chervinsky highlighted that while Ethereum has been at the forefront of policy discussions for years, its policy advocacy has largely relied on industry nonprofits and Ethereum-aligned companies.
The former operate with a wider scope, whereas for-profit companies are primarily driven by their commercial interests.
On the other hand, the priorities of Ethereum-aligned companies may not always align with Ethereum’s core principles of decentralization and permissionless system.
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DCinvestor echoed these concerns, suggesting that Ethereum must establish a strategic representation effort. He proposed that an entity like Etherealize.io could take the lead by engaging policymakers and promoting Ethereum’s unique value proposition.
Additionally, he stressed the need for a structured lobbying effort, with DeFi applications and Layer 2 projects contributing funds to ensure favorable legislation for the entire ecosystem.
Learning Advocacy from Ripple & Solana
Competing blockchains in the space have already formed strong advocacy groups. Ripple, for instance, co-founded the Fairshake super PAC in response to the SEC’s regulatory scrutiny. Meanwhile, the Solana Foundation has positioned itself as a respected policy player, maintaining a dedicated policy lead and actively participating in industry associations.
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With growing regulatory uncertainty, Ethereum’s lack of representation puts it at a disadvantage. Industry leaders argue that the Ethereum Foundation or a dedicated advocacy group must allocate resources, hire policy experts, and actively lobby to secure its future in the changing policy environment.
As for the March 7 crypto summit, Fox Business reporter Eleanor Terret revealed that the industry invites are highly selective and limited. David Sacks, the White House Crypto Czar, has hinted that major updates on crypto regulations and reserves will be announced.
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