Recently, a group of crypto and blockchain companies have joined forces to create a Texas-based crypto advocacy group called the Texas Crypto Freedom Alliance, which aims to promote “coherent regulations for digital assets in Texas.” and predictable regulations.” The organization was founded by a16z crypto, Coinbase, Ledger, Bain Capital Crypto, Blockchain Capital and Paradigm.

To achieve its goals, the Crypto Freedom Alliance will promote educational programs for government officials, companies, nonprofits and other organizations to highlight the value of Web3 in Texas. Brian Quintenz, global policy director at a16z crypto, said Texas is well-positioned to be a haven for Web3 developers, but it will require forming an advocacy group to address the state’s issues.

Quintenz believes that decentralized autonomous organizations (DAOs) generally require legal jurisdiction to operate. Texas is an attractive state thanks to its adoption of the Uniform Code of Unincorporated Associations. However, some small changes need to be made to this code to allow the DAO to be treated as a legal entity. Additionally, the organization will push for crypto-friendly tax laws, bank charter laws, and banking regulations.