The cryptocurrency industry is getting political.

The Blockchain Association was launched Tuesday in Washington, DC, and will serve as the "unified voice of the blockchain ecosystem." It's essentially a lobbying firm for digital currencies and other blockchain-based technologies.

"Innovation moves faster than policy, and we've seen many blockchain-based frameworks with great potential that don't fit neatly within existing statutory and regulatory frameworks," the firm said in a blog post. "The unique characteristics of the token economy require an evolved environment that supports our members."

Cryptocurrency, such as bitcoin and Ethereum, has grown into a billion-dollar industry worldwide, according to Coin Market Cap. Blockchain is the fundamental technology that powers these digital currencies. Cryptocurrencies aren't widely used for buying consumer goods, but they do function as investment vehicles and storehouses for wealth.