A staffer for the Senate committee that has taken the lead in overseeing Bitcoin has jumped to one of the top companies that works with the digital payments system.
Coinbase, a Bitcoin wallet and exchange start-up, announced Monday that it had hired former Senate Homeland Security and Governmental Affairs Committee senior adviser John Collins as its head of government affairs.
Collins “will engage with and educate public officials and lawmakers about Bitcoin, and help drive an informed discussion around public policy that protects consumers without stifling the incredible innovation we’re seeing at all levels across the Bitcoin community,” according to Coinbase.
Under Chairman Sen. Tom Carper, D-Del., the Homeland Security Committee has stepped forward in monitoring developments in digital payments systems and virtual currencies such as Bitcoin, which remain largely untouched by financial regulators. Last November, the committee held the first-ever hearing on virtual currencies, part of a series of events that led to increased awareness of Bitcoin, which caused the price of a single Bitcoin to briefly soar above $1,000. Bitcoin has fallen below $400 in recent weeks. Carper has sought to advance policies that address risks to consumers without stifling legitimate uses of virtual currencies.
Collins’ departure from the committee for Coinbase appears to be the first instance of an employee of Congress or a regulatory body leaving to work in the virtual currencies industry.
