Former senior Obama advisor guides lobbying and policy strategy of London cryptocurrency firm

Jim Messina, a former Deputy Chief of Staff to President Barack Obama, is giving some huge lobbying guidance to a London-based crypto trading platform as the industry must comply with regulations. new in the US and abroad.

The veteran political executive joined Blockchain.com’s board early last year, becoming the chief advisor on government relations, said business director Lane Kasselman in an interview with CNBC. and its policy strategy.

The cryptocurrency industry has increase lobbying around the world with potentially stringent regulations on the horizon. The Biden Administration release its framework on potential U.S. crypto regulations earlier this month, including ways it could help fight fraud.

Kasselman describes Messina as an important guide to the company’s overall policy and lobbying efforts. He noted that Messina is not a registered lobbyist, but often advises their team on lobbying strategy.

“You could say that we are probably one of the most successful companies when it comes to crypto-related public policy engagement globally, certainly in the United States and Western Europe. is a direct result of Jim and his guidance on that front,” said Kasselman. Messina, who was Obama’s deputy chief of staff, is now the CEO of consulting firm The Messina Group.

Although Messina is not a registered lobbyist, the Messina Group has provided guidance on lobbying and other policy issues to Uber, Pillpack, Airbnb, Google, Delta Air Lines and Hutchison Whampoa, according to the client list on their website.

In addition to his tenure as an advisor to Obama, Messina’s firm has also advised powerful government officials, including former UK Prime Ministers Theresa May and David Cameron, along with Enrique Peña Nieto of Mexico and Mauricio Macri. of Argentina and Matteo Renzi of Italy. Messina tweeted His photos in the White House as Obama and former First Lady Michelle Obama have been revealed their official portraits.

Kasselman credits Messina when the company hired Ian Mair as Blockchain.com’s head of US policy and Giles Swan to run its European policy. Blockchain.com, where the headquarters of the United States is maintained in Miami, also in a group of crypto companies lobbying elements of Digital Financial Asset Law, which will tighten industry scrutiny in California, where many crypto companies are based in the United States. Kasselman said it was “putting out amendments and feedback” after the bill was introduced. He said their “major amendment focus” is on the “implementation timeline” of the bill.

If signed into law by Governor Gavin Newsom, the bill will go into effect in 2025 and require companies, such as digital asset exchanges, to obtain a license through the Bureau of Innovation and Security. State Finance.

Kasselman also noted that Messina instructed them on the best way to lobby the European Parliament for crypto regulation known as the Market Rules in Crypto Assets.

Kasselman said it won its most recent battle with members of parliament and their staff as the EU was deciding “essentially whether it decides to make non-custodial wallets illegal.” , he said. These types of digital wallets, which Blockchain.com advertises on its website, work effective as an extremely secure crypto savings account.

“It’s core to our business belief that we should give people control of their assets and protect it from any other potential interference. And Jim really got us thinking. think through ‘what’s that argument, what’s going to work in Brussels? What are those members? Congress is worried and how do we address these concerns?'” said Kasselman. “And as a result of his advice, having worked with heads of state across Europe for many years, we created, I don’t want to call it a campaign but a debate that we went in and met some ministers and won.”

Swan, the company’s head of European policy, met with staff from the EU’s financial services commissioner, Mairead McGuinness, in May to discuss so-called remittance regulation, according to a report disclosure. McGuiness has criticized cryptocurrencies and said digital assets are “one of the newest ways to launder money” in a tweet last year.