Enthusiasts hope that Bitcoin will one day play a big role in the economy, but it cannot get there when it lacks policies to protect its users. Because of the increasing number of people using Bitcoin, one law professor decided it was time to take some action in order for it to gain wider acceptance.

Former head of the technology policy program at George Mason’s Mercatus Center Jerry Brito has announced he’ll be heading a new organization called the “Coin Center”, which is a “new non-profit research and advocacy center focused on the public policy issues facing cryptocurrency technologies such as Bitcoin.”

The organization aims to build a better understanding of cryptocurrencies and promote a regulatory climate that preserves maximum freedom of action. This will be possible by producing and publishing policy research from respected academics and experts, as well as educating policymakers and the media about block chain technology.

“Digital currencies like Bitcoin will be an important part of our economy, and policymakers are now beginning to consider how to regulate their use,” said Brito in a statement. “As a result, there is a need for an organization that can be a trusted and credible source of information about the regulatory implications of digital currencies. We seek to be that trusted and credible source.”

Coin Center board members include Marc Andreessen, Balaji Srinivasan, Jeff Garzik, Alex Morcos, and Prof. Susan Athey. The organization kicks off with an annual budget of $1 million sponsored by Andreessen Horowitz, Hudson River Trading, Union Square Ventures, RRE Ventures, Emil Woods of Liberty City Ventures, Charles Cascarilla of itBit, Barry Silbert, BitPay Inc., Coinbase Inc., BitGo Inc., and Xapo Inc.

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