Fidelity Investments, Square Inc. and several other financial firms are forming a new trade group that aims to shape the way bitcoin and other cryptocurrencies are regulated.
The Crypto Council for Innovation will lobby policy makers, take up research projects and serve as the burgeoning industry’s voice in championing the economic benefits of digital currencies and related technologies. Crypto investor Paradigm and Coinbase Global Inc., which operates a cryptocurrency exchange, also signed on as initial members of the group.
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