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Cryptocurrency coalition plans to pay US lobbyists in digital coins

The new group calls itself the Securing America's Internet of Value Coalition -- a nod to an emerging notion in the fintech world where digital transactions will all be connected

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Robert Schmidt | Bloomberg
A group of financial technology companies is banding together to lobby lawmakers and regulators on cryptocurrencies -- and they plan to pay their Washington advocates partly in digital coins.

The firms, all based in the San Francisco area, include digital money transfer company Ripple and several startups. They’re announcing Thursday that they’ve started a coalition and are retaining the Klein/Johnson Group, a bipartisan lobby shop that specializes in technology and financial services issues.

The companies’ lobbying push comes as Congress and agencies like the Securities and Exchange Commission are trying to figure out what kind of federal rules should apply to digital