Coinbase leaves American Blockchain Association after Binance entered it

The exchange and operator Coinbase exited the blockchain lobbying group the Blockchain Association after its rival Binance was admitted to it. Coinbase informed about its resignation in the letter sent on August 11, 2020, telling about its disappointment concerning the recent actions of the association. And though the letter doesn’t mention Binance, the insiders say about the highest probability of resignation due to admittance of the exchange to the Association.
Coinbase expressed hope that the Association will stick to the same values. The company didn’t like low membership criteria in the Group, which, in the opinion of Coinbase, was established for more efficient work as the Association follows its mission.
The company thinks that such a shift undermines the credibility of the organization and makes the achievement of goals set by it more complicated.
A Coinbase spokesperson also told about the readiness of the exchange to cooperate with other advocacy groups for the sake of the crypto industry and its development.
In reply to the letter, the Blockchain Association also expressed its disappointment that a founding member has left the Group in a critical period for the industry. It tweeted that it’s important to preserve neutral membership criteria and added that they made real progress and managed to achieve much over the years of work. Binance in its turn refused to comment on the subject.

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