Crypto Exchange Kraken Donates $1M USD To Blockchain Advocacy Group Coin Center

Announcements, News | May 21, 2018 By:

Cryptocurrency exchange Kraken has donated $1 million to nonprofit advocacy group Coin Center. The exchange also pledged to match any donation made to Coin Center until the end of this month, up to $1 million.

Based in Washington, DC, Coin Center is a non-profit research and advocacy center focused on the public policy issues facing cryptocurrency and decentralized computing technologies. Coin Center’s mission is to build a better understanding of these technologies and to promote a regulatory climate that preserves the freedom to innovate using permissionless blockchain technologies. The group do this by producing and publishing policy research and by engaging in advocacy for sound public policy.

Coin Center spokesman Neeraj Agrawal said that Kraken’s donation is the largest single contribution it has received to date.

“These contributions will go a long way to helping us gear up for the increased attention to cryptocurrencies here in DC,” Agrawal said. “So, if you’ve been thinking about donating to Coin Center, now is the time. Your money will go twice as far.”

Kraken said the great work that Coin Center does is extremely important and referenced by governments around the world.

“They’ve been ardent defenders of blockchain technology, cryptocurrency and innovation,” Kraken said. “Their work benefits the community, the industry and people who have yet to hear about Bitcoin. We are very proud to be able to support their continued effort.”

Last month, Kraken was one of 13 crypto exchanges that received a fact-finding inquiry from New York Attorney General Eric Schneiderman. The exchanges were asked to fill out a questionnaire sharing details on areas such as ownership, fees, trading suspensions, and money laundering.

While most exchanges expressed support for the request, Kraken CEO Jesse Powell criticized the attorney general’s request for information and said that the exchange will not provide any information about its business. He added that his exchange can “dodge this bullet” because it left New York in 2015.