Falcon Global Capital has filed to register lobbyists on Capitol Hill in an effort to further “education and understanding of bitcoin and other crypto-graphic based currencies”.
Greater bitcoin discussion in Congress should give lawmakers more familiarity and comfort with the concept, currently misrepresented by its scandals and its volatility.
Co-founder Brett Stapper said:
Though more US politicians are taking an active interest in the technology, awareness remains low, leading many to worry that the US government could seek to implement unfavorable or restrictive policies for the industry.
Falcon’s move follows that of government relations group Peck Madigan Jones, who last month pressured Capitol Hill by putting “bitcoin and mobile payments” on its lobbying agenda.
Clients of PMJ include Deloitte, Wells Fargo Securities, US Chamber of Commerce and MasterCard, among others. Given these notable names, the development caused widespread concern in the bitcoin community.
As bitcoin’s popularity increases, so does the need for representation in Congress, especially if well-established companies in the banking and finance industries use their weight in Washington to obstruct the digital currency’s growth.
Having government support is one of the most critical issues the bitcoin community faces, Stapper said.
Investment funding rising
The San Diego-based bitcoin investment fund aims to give investors greater exposure to bitcoin by purchasing large amounts for them – between $25,000 to $10,000,000 – and storing them in a digital vault, providing clients “an easy entry and exit point”, its website states.
However, it's far from the only player. California-based bitcoin-only venture fund Pantera launched an investment fund this March, amid new enthusiasm that Wall Street investors will look to support the bitcoin movement in 2014 and beyond.
Image via Falcon Global Capital
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.