Author: Nicole Rankin

The Digital Chamber Applauds SEC’s Rescission of SAB 121: A Milestone for Institutional Digital Asset Custody, Consumer Protection, and Fairness.

by Nicole Rankin

Washington, DC – January 23, 2025

The Digital Chamber (TDC) celebrates the Securities and Exchange Commission’s (SEC) decision, under the leadership of Acting Chair Uyeda, to rescind Staff Accounting Bulletin (SAB) 121. This marks a critical victory for the digital asset industry and institutional custody solutions, and we are proud of the pivotal role we played in achieving this outcome.

In 2024, TDC led legislative efforts to nullify SAB 121, championing H.R. Res. 109 – the first piece of digital asset legislation to pass both the U.S. House of Representatives and the Senate. While the resolution was ultimately vetoed by President Biden last year, the overwhelming bipartisan support underscored the urgency and importance of creating a balanced and partial regulatory environment for digital assets. Today’s announcement is a testament to the momentum and the progress achievable through industry collaboration and advocacy.

The repeal of SAB 121 was a cornerstone of TDC’s 2025 SEC Digital Asset Policy Priorities, and we are encouraged to see progress being made so early in the year. This action marks a significant step forward in removing barriers to digital asset adoption, while providing much-needed clarity and opportunity for institutional investors to confidently engage in the digital asset space.

We commend Acting Chair Uyeda, Commissioner Hester Peirce, and the newly created SEC Crypto Task Force for their commitment to driving responsible digital asset innovation. TDC looks forward to continuing our collaboration with these leaders to ensure that the United States remains at the forefront of digital asset policy and innovation.

For more details, visit the SEC’s announcement here.

Statement of Support for President Trump’s Executive Order “Strengthening American Leadership in Digital Financial Technology”

by Nicole Rankin

Today is a historic moment for the United States and the future of financial innovation. President Trump’s executive order establishes the principles that will define America’s leadership in the digital asset economy, ensuring access to open public blockchain networks without persecution, supporting the development of groundbreaking software like smart contracts, and protecting vital public infrastructure. It reaffirms the rights of individuals and businesses to participate in mining and validating, transact peer-to-peer without unlawful censorship, and maintain self-custody of digital assets through unhosted wallets.

This executive order sets a bold and clear course for U.S. leadership. The Digital Chamber stands ready to work hand in hand with David Sacks and the President’s Working Group on Digital Asset Markets to ensure this transformative vision becomes reality. This is more than a policy moment—it’s the foundation of a brighter, freer, and more innovative economic future.

– Founder & CEO, Perianne Boring

Congratulations to Paul Atkins: Championing Innovation as SEC Chairman Nominee

by Nicole Rankin

We are delighted to congratulate our esteemed Board Advisor, Paul Atkins, on his nomination as Chairman of the U.S. Securities and Exchange Commission.

Mr. Atkins has been a pivotal ally in advancing our mission to develop robust, orderly, and fair digital asset markets. His dedication, insight, and leadership have been instrumental in shaping our efforts and vision for the future of the industry.

Mr. Atkins is the ideal choice to support President-elect Trump’s bold vision of establishing the United States as the global leader in digital asset innovation. We are confident his expertise and commitment will help pave the way for a thriving and forward-looking regulatory environment.

How Stablecoins Can Strengthen U.S. Dollar Dominance  

by Nicole Rankin

Stablecoins are not just the future of finance—they’re the key to maintaining the U.S. dollar as the world’s leading reserve currency. Once viewed as a tool exclusively for crypto asset trading, stablecoins are redefining global finance by unlocking financial well-being and freedom for a growing, global user base.   

As stablecoin use cases expand beyond facilitating crypto trading to supporting cross-border payments, trade settlement, remittances, payroll, and even enabling access to high-yield financial products—they create new opportunities for users to interact with U.S. dollars, digitally. What was once viewed as a niche financial tool, stablecoins are gradually opening up new, non-crypto-related economic opportunities for users in far-away markets through increased access to dollar-denominated digital payment rails.  

What Are Stablecoins?  

While there is no universally agreed legal or regulatory definition of stablecoin, a ‘stablecoin’ is generally viewed as a type of digital asset that aims to maintain a stable value relative to a specified asset, or a pool or basket of assets. Currently, there are more than $170 billion worth of stablecoins are in circulation today, and a whopping 98 percent of those are linked to the U.S. dollar. Unlike other cryptocurrencies, stablecoins offer price stability, making them an appealing alternative to traditional financial systems. But beyond their importance in protecting crypto asset traders from wild price swings in the underlying cryptocurrency, the utility of stablecoins is increasingly evolving to meet growing demand and preference, particularly from emerging markets, for dollar-denominated financial services.   

Why This Matters  

One of the defining characteristics of stablecoins is their borderless nature. The ability to enable faster, cheaper, and more inclusive financial transactions and services make stablecoins an indispensable tool for the millions of people underserved by traditional financial markets. Given user preference for dollar-denominated financial services, USD-linked stablecoins are a critical tool to extend the global dominance of the U.S. dollar, expand dollar access to new markets, and protect our national security interests at a time of heightened geopolitical instability. As the stablecoin market expands, U.S. policymakers have a unique opportunity to strengthen the dollar’s position on the global stage, extend U.S. financial influence, and protect against the development and scaling of adversarial payment systems.  

The Urgent Need for Stablecoin Policies  

Despite the promise of USD-linked stablecoins, the U.S. has yet to implement a regulatory framework that fully capitalizes on this opportunity. This regulatory gap could leave an open door for other countries to develop their own stablecoin frameworks, potentially diminishing the dollar’s influence in the process.  

Lawmakers must act now to ensure the U.S. remains at the forefront of this digital financial revolution. In our new report, How Stablecoins are Extending U.S. Dollar Dominance: A Policymaker’s Guide to Action, we provide policy recommendations that can help guide U.S. lawmakers in creating a comprehensive framework to secure the dollar’s influence and leadership in the digital age.  

The time for action is now.   

Download The Essential Guide

Meet the Newcomers of the 119th Congress 

by Nicole Rankin

A wave of pro-crypto freshmen is set to hit the 119th Congress 

MEMBERS-ONLY: CONFIDENTIAL DO NOT SHARE

SENATE:  

CA: Adam Schiff (D)  

  • Former Occupation: Member of Congress for California’s 30th District (2001-) 
  • Statements on Digital Assets: “While I’m still reviewing the FIT for the 21st Century Act (Schiff ended up voting in favor), I agree we need to develop a comprehensive regulatory framework to ensure that these companies and jobs stay here and grow here, and that the U.S. remains a global leader in these important new technologies. Otherwise, we risk losing jobs to workers overseas, where these technologies will face less oversight and transparency.” 
  • Replacing: Laphonza Butler (D) 

DE: Lisa Blunt Rochester (D)  

  • Former Occupation: Democratic Congressperson from Delaware, At-Large (2017-) 
  • Actions/Statements on Digital Assets: “America has been at the forefront of technological change. As a co-creator of the bipartisan Future of Work Caucus, Lisa recognized we were unable to keep up with rapidly developing technologies like generative AI or blockchain technologies.”  
  • Rochester joined Rep. Larry Bucshon, M.D. (R-IN-08) in introducing the Promoting Resilient Supply Chains Act and the Deploying American Blockchains Act  
  • Replacing: Tom Carper (D)  

IN: Jim Banks (R)  

  • Former Occupation: Member of Congress for Indiana’s 3rd District (2017-)  
  • Actions on Digital Assets: Voted for FIT21, CBDC Anti-Surveillance State Act 
  • Replacing: Mike Braun (R)  

MD: Angela Alsobrooks (D) 

  • Former Occupation: County Executive of Prince George’s County (2018-) 
  • Statements on Digital Assets: “It is vitally important that we harness the benefits of crypto and blockchain technology appropriately, and make sure that it is the United States who remains the global leader in the development of these new technologies. Congress must work to develop a comprehensive regulatory framework to address these technological developments in order to ensure that the industry has the necessary oversight and transparency.” 
  • Replacing: Ben Cardin (D) 

NJ: Andy Kim (D) 

  • Former Occupation: Member of Congress for New Jersey’s 3rd District (2019-) 
  • Actions on Digital Assets:  Voted for FIT21 
  • Replacing: George Helmy (D); Bob Menendez (D) 

MI: Elissa Slotkin (D)  

  • Former Occupation: Member of Congress for Michigan’s 7th District (2019-) 
  • Statements on Digital Assets: “When new technologies like cryptocurrencies emerge without regulation, it’s often ordinary Americans who are hurt the most. Blockchain technology has great potential, but the public is asking Congress for oversight. I talked about this issue yesterday as a member of House AG”  
  • Replacing: Debbie Stabenow (D)  

MT: Tim Sheehy (R)  

  • Former Occupation: Aerial Firefighter, Business Owner  
  • Statements on Digital Assets: “Jon Tester and Joe Biden want to push through a CBDC, enabling the government to SPY on the financial transactions of everyday Americans. Let me be clear: I’ll work to BAN a CBDC. Let’s ensure Americans have the right to FREEDOM money, like cash and Bitcoin … and Retire.”  
  • Replacing: Jon Tester (D) *R Flip* 

OH: Bernie Moreno (R)  

  • Former Occupation: Former Car Dealership Owner  
  • Statements on Digital Assets: “Sherrod Brown just voted against the repeal of SAB 121, one of the most egregious examples of deep state overreach in American history. Twelve rational democrats joined every Republican in restoring sanity to the regulation of digital asset custody.”
  • Moreno spoke at TDC’s DC Blockchain Summit and appears on TDC’s Blockchain Brew Series 
  • Replacing: Sherrod Brown (D) *R Flip* 

PA: Dave McCormick (R) 

  • Former Occupation: Chief Executive Officer of Bridgewater Associates (2020-2022)  
  • Statements on Digital Assets: “Crypto and blockchain have the potential to create incredible jobs for our commonwealth and strengthen our national security. We need leaders who will embrace it and ensure America is leading the world in another generation of critical innovation.”  
  • Replacing: Bob Casey (D) *R Flip* 

UT: John Curtis (R)  

  • Former Occupation: Member of Congress for Utah’s 3rd District  
  • Statements on Digital Assets: “On the floor today, I urged my colleagues to support a resolution repealing the latest SEC rule targeting crypto currency. Crypto is a legitimate market used by many Utahns. We should be giving investors opportunities to take part in crypto, not putting up artificial barriers.” 
  • Replacing: Mitt Romney (R)  

WV: Jim Justice (R) 

  • Former Occupation: Governor of West Virginia (2017-) 
  • Comments on Digital Assets: “I’m learning more and more about cryptocurrencies, blockchain, and all these new technologies. We have supported Bitcoin miners in West Virginia. There are several locations near coal-fired power plants, and coal-fired electricity is being used to mine Bitcoin and other cryptocurrencies in West Virginia.” 
  • Replacing: Joe Manchin (I) *R Flip*  
     

HOUSE:  

AL: Shomari Figures (D) 

  • Former Occupation: Former Deputy Chief of Staff for Attorney General Merrick Garland  
  • Comments on Digital Assets: “Embracing the evolving digital asset landscape, including cryptocurrencies, to foster innovation and technological progress. It aims to ensure that as blockchain technology advances, its applications benefit our District, particularly in supply chain management, healthcare, and identity verification. 
  • Replacing: Barry Moore (R) *D Flip*  

AZ: Yassamin Ansari (D)  

  • Former Occupation: Phoenix City Council (2021-2024); Climate Policy Activist 
  • Comments on Digital Assets: “Lead the way in the blockchain and crypto innovation. By leading and establishing guidelines to innovate, we can make sure we protect consumers and create more equitable access for all.” 
  • Replacing: Ruben Gallego (D) 

CA: Lateefah Simon (D)  

  • Former Occupation: San Francisco Bay Area Rapid Transit Board of Directors 
  • Comments on Digital Assets: “The Bay Area has long been a global leader in technological advancement, and Lateefah is committed to embracing the new landscape of innovation, which includes cryptocurrency, artificial intelligence, and blockchain. Lateefah hopes to establish clear regulatory frameworks to create an environment fostering technological progress and consumer protection.”  
  • Replacing: Barbara Lee (D)  

CA: Sam Liccardo (D)  

  • Former Occupation: Mayor of San Jose (2015-2023) 
  • Comments on Digital Assets: “Through Helium, the City of San Jose partnered to deploy a groundbreaking plan to turn cryptocurrency sale profits into a funding plan to buy 1,300 low-income households internet for an entire year.”  
  • Replacing: Anna Eshoo (D)  

CO: Jeff Crank (R)  

  • Former Occupation: Host, Colorado’s 740 KVOR, The Jeff Crank Show (2008-) 
  • Comments on Digital Assets: “I have a cryptocurrency policy advisor, Tyler Lindholm from Wyoming, who is one of the foremost policy experts on crypto. It is imperative that Congress fix the current issues but also stays connected with industry to understand the issues of tomorrow. I am also a fan of the Lummis-Gillibrand Responsible Financial Innovation Act as it thoroughly covers all existing policy issues.” 
  • Replacing: Doug Lamborn (R) 

CO: Jeff Hurd (R) 

  • Former Occupation: Attorney 
  • Comments on Digital Assets: “Jeff believes that new innovations like blockchain technology and cryptocurrency have the potential to radically change our society for the better. We shouldn’t let countries like China leap ahead of American innovators. Legislation like the FIT21 bill (H.R. 4763) represents the kind of bipartisan lawmaking we need to see more of in Washington.” 
  • Replacing: Lauren Boebert (R) (moved to a different district)  

DE: Sarah McBride (D) 

  • Former Occupation: DE State Senator (2021-) 
  • Comments on Digital Assets: “By embracing fintech, blockchain technology, and crypto innovation, we have the opportunity to cultivate a more inclusive economy that reaches every corner of our nation – and sets Delaware’s economy up for long term success.”  
  • McBride was featured on TDC’s Blockchain & Brew candidate series this summer. 
  • Replacing: Lisa Blunt Rochester (D)  

FL: Mike Haridopolos (R)  

  • Former Occupation: President of the Florida Senate (2010-2012) 
  • Comments on Digital Assets: N/A 
  • Replacing: Bill Posey (R)  

GA: Brian Jack (R) 

  • Former Occupation: White House Political Director (2019-2021)  
  • Comments on Digital Assets: “We should embrace digital innovation and provide clear, common-sense guidelines for blockchain technology. By doing so, we can create American jobs, protect American consumers, and enable America to remain the global leader in financial services.” 
  • Replacing: Drew Ferguson (R)  

IN: Marlin Stutzman (R)  

  • Former Occupation: Member of the United States House of Representatives, representing Indiana’s 3rd Congressional District (2010 – 2017) 
  • Comments on Digital Assets: N/A 
  • Replacing: Jim Banks (R) 

IN: Jefferson Shreve (R) 

  • Former Occupation: National Chairman of the Indiana University Alumni Association (2011-2016)  
  • Comments on Digital Assets: “Congress and the Biden Administration have failed to prepare the U.S. for the growing digital economy. I’ll work to provide certainty and stability to the industry through clear and transparent regulation, so cryptocurrency innovation remains anchored on U.S. shores and Hoosiers can invest and transact with confidence.”  
  • Replacing: Greg Pence (R)  

IN: Mark Messmer (R) 

  • Former Occupation: Member of the Indiana State Senate (2014-) 
  • Comments on Digital Assets: “The U.S. faces a critical juncture in regulating cryptocurrencies and digital assets, with outdated laws jeopardizing both innovation and consumer safety. I advocate for a regulatory overhaul that promotes blockchain technology, upholds financial privacy, and aligns with American values of freedom and market liberty. Opposing central bank digital currencies ensures the digital economy reflects these principles.” 
  • Replacing: Larry Bucshon (R)  

KS: Derek Schmidt (R)  

  • Former Occupation: Kansas Attorney General (2011–2023) 
  • Comments on Digital Assets: “America wins when we let innovators do what they do best. But we also must ensure that we have a regulatory framework that focuses on protecting those innovators, as well as keeping the jobs and economic prosperity that will come from crypto and blockchain in our country.” 
  • Replacing: Jake LaTurner (R)  

MD: Johnny Olszewski (D)  

  • Former Occupation: Baltimore County Executive 
  • Comments on Digital Assets: N/A 
  • Replacing: Dutch Ruppersberger (D) 

MI: Kristen McDonald Rivet (D)  

  • Former Occupation: Member of the Michigan Senate from the 35th District (2023-) 
  • Statements on Digital Assets: There are really important possibilities that emerge when you can build a trustless system with a public ledger. At the same time, we’ve seen what unregulated overseas markets have done… Stablecoins are an important part of the bridge between the crypto and traditional finance system and we need a rational mechanism to cross between the two. Backed coins are a no-brainer when done properly but algorithmic coins have already presented serious problems. 
  • Replacing: Dan Kildee (D)  

MO: Bob Onder (R) 

  • Former Occupation: Missouri State Senator (2015–2023) 
  • Comments on Digital Assets: “Of course totalitarians like Warren hate cryptocurrencies, because they hate freedom. Governments have used control of money to manipulate the economy for their benefit.”  
  • Replacing: Blaine Luetkemeyer (R)  

MT: Troy Downing (R)  

  • Former Occupation: Montana State Auditor (2020-) 
  • Comments on Digital Assets: “As a Regulator, I am frustrated with Gary Genzler and the SEC in the ambiguities around crypto as a commodity or a security. We need a good framework to clarify while not stifling innovation.”  
  • Replacing: Matt Rosendale (R)  

NC: Addison McDowell (R) 

  • Former Occupation: Constituent Services Representative, Rep. Tedd Budd (R-NC) (2016-2019); Blue Cross and Blue Shield Manager of Government Affairs  
  • Comments on Digital Assets: “Addison believes the United States should be a leader in creating a forward-looking, pro-innovation crypto policy. This means avoiding burdensome government regulation and opposing efforts to create central bank digital currencies (CBDCs).” 
  • Replacing: Kathy Manning (D) *R Flip*  

NC: Tim Moore (R)

  • Former Occupation: Speaker of the North Carolina House of Representatives (2015-) 
  • Comments on Digital Assets: “The USA must lead in pro-innovation #crypto policy. I applaud President Trump’s call for a Bitcoin strategic reserve and will work with him to cut burdensome regulations and oppose the creation of a CBDC.” 
  • Replacing: Jeff Jackson (D) *R Flip* 

NC: Pat Harrigan (R)  

  • Former Occupation: Green Beret; Defense-Products Manufacturer 
  • Comments on Digital Assets: “Nobody should take economic advice from anti crypto, out-of-touch politicians like Senator Warren. The inflation we’re  experiencing isn’t because of technology or markets; it’s the direct result of failed economic and foreign policy decisions by President Biden and VP Harris”  
  • Replacing: Patrick McHenry (R)  

ND: Julie Fedorchak (R)  

  • Former Occupation: North Dakota Public Service Commissioner (2013-) 
  • Comments on Digital Assets: N/A 
  • Replacing: Kelly Armstrong (R) 

NH: Maggie Goodlander (D) 

  • Former Occupation: United States Deputy Assistant Attorney General for the Antitrust Division (2021-2024) 
  • Comments on Digital Assets: “Blockchain technologies and their applications could help empower Americans to be the true owners of our own data and be true stakeholders in the digital economy.” 
  • Replacing: Annie Kuster (D) 

NJ: Herb Conaway (D)  

  • Former Occupation: Member of the New Jersey General Assembly from the 7th district 
  • Comments on Digital Assets: “Our rivals on the world stage are successfully utilizing digital asset frameworks to elevate their market infrastructures. As your next congressman, I’ll work to keep America economically competitive across the globe and make us a leader in emerging technologies.” 
  • Replacing: Andy Kim (D)  

NY:  John Mannion (D)  

  • Former Occupation: New York State Senator (2020-) 
  • Comments on Digital Assets: N/A 
  • Replacing: Brandon Williams (R) *D Flip* 

NY: Josh Riley (D)  

  • Former Occupation: Attorney; General Counsel to U.S. Senator Al Franken (2011-2014) 
  • Comments on Digital Assets: “I support the principle that we should have modernized regulation that provides consumer protection and fosters innovation. In my legal career, I was named one of the nation’s top technology lawyers under 40, so I’d be well-positioned to lead on high-tech issues in Congress. 
  • Replacing: Marcus Molinaro (R) *D Flip* 

OH: David Taylor (R)  

  • Former Occupation: Small Business Owner and Former Prosecutor 
  • Comments on Digital Assets: “In Congress, I will oppose unnecessary regulations on cryptocurrency and support a clear regulatory framework for the industry that gets government out of the way.” 
  • Replacing: Brad Wenstrup (R) 

PA: Rob Breechan (R)  

  • Former Occupation: CEO of Kuharchik Construction 
  • Comments on Digital Assets: “I am a longtime cryptocurrency user, you can see on my personal financial disclosure as a federal candidate that I own both BTC and ETH. I believe that this industry contains a remarkable amount of innovation for the future of our economy and will transform countless industries.” 
  • Replacing: Matt Cartwright (D) *R Flip* 

PA: Ryan Mackenzie (R)  

  • Former Occupation: Member of the Pennsylvania House of Representatives for the 187th Legislative District 
  • Comments on Digital Assets: N/A 
  • Replacing: Susan Wild (D) *R Flip* 

SC: Sheri Biggs (R)  

  • Former Occupation: Intensive Care Unit Nurse; Air National Guard 
  • Comments on Digital Assets: N/A 
  • Replacing: Jeff Duncan (R)  

TX: Brandon Gill (R)  

  • Former Occupation: Founder of DC Enquirer news outlet  
  • Comments on Digital Assets: “Core Scientific is a crypto mine in TX26 & a very important asset to North Texas.”  
  • Replacing: Michael Burgess (R) 

TX: Julie Johnson (D)  

  • Former Occupation: Member of the Texas House of Representatives (2019) 
  • Comments on Digital Assets: “Blockchain technology and its applications are ushering in the next generation of the internet, allowing Americans to own their data, create wealth, and be stakeholders in the digital spaces of the future. Americans can benefit from crypto innovation. We must establish clear rules of the road for the crypto industry to build technology that benefits everyday Americans, while protecting consumers and ensuring equitable outcomes for all.” 
  • Replacing: Colin Allred (D)  

VA: Suhas Subramanyam (D)  

  • Former Occupation: White House Technology Policy Advisor to President Obama 
  • Comments on Digital Assets: “As a former tech policy advisor to President Obama, and as someone who has invested in cryptocurrency ventures, I know that Congress desperately needs members with the knowledge and the will to work with the cryptocurrency industry. As a board member for Blue Sunstone Weintraub PC Asset Vectors (BWAV), we invested in Kinesis, an asset-backed cryptocurrency trading platform. I’ve worked with several companies in the fintech space, including stablecoin ventures, furthering the normalization of cryptocurrency usage.” 
  • Replacing: Jennifer Wexton (D) 

VA: Eugene Vindman (D)  

  • Former Occupation: Deputy Legal Advisor for the United States National Security Council (NSC) (2018-2020); U.S. Army Lieutenant Colonel (1998-2022) 
  • Comments on Digital Assets: “I believe it is critical that the United States continues to be a global innovation leader, and that federal regulations should always be crafted with this imperative as a guiding principle. As new technologies develop in the United States I believe it is important for lawmakers to always work with industry leaders to maintain our strong place in the world. 
  • Replacing: Abigail Spanberger (D) 

WA: Emily Randall (D)  

  • Former Occupation: Member of the Washington State Senate from the 26th District (2019-) 
  • Comments on Digital Assets: “I believe in the importance of driving technological innovation and economic growth, including through blockchain technology and the digital asset industry.”  
  • Replacing: Derek Kilmer (D)  

WI: Tony Wied (R) 

  • Former Occupation: Gas Station and Convenience Store Chain Owner 
  • Comments on Digital Assets: “As someone with personal experience with cryptocurrency, I support regulating and creating a level playing field for crypto and digital assets, ensuring consumer protection as well as safeguards for privacy.  Ibelieve Congress needs to come together to prioritize commonsense solutions because of the national security and economic implications for our country. 
  • Replacing: Mike Gallagher (R)  

WV: Riley Moore (R)  

  • Former Occupation: West Virginia State Treasurer (2021-)  
  • Comments on Digital Assets: “If elected to Congress, I will fight to ban central bank digital currency (CBDC)! As your State Treasurer, I will not allow such a reckless piece of legislation to pass in WV. We must not further empower the surveillance state!” 
  • Replacing: Alex Mooney (R) 

The Week(s) Ahead – September 16, 2024 

by Nicole Rankin

THIS IS MEMBER ONLY CONTENT – PLEASE DO NOT SHARE

U.S. (Federal) 

Not publicly listed, but known: SEC Oversight Hearings in HFSC, Senate Banking w/ Chair Gensler testifying (Sept 23 & 25, respectively). HFSC markup on several to-be-determined bills on September 26 

  • November 21-22: Federal Reserve Bank of Cleveland – Office of Financial Research – 12th Annual Financial Stability Conference: Emerging Risks in a Time of Interconnectedness and Innovation. (read more)
    • TBD 
       
  • Oct 22-23: Federal Reserve Bank of Philadelphia – 8th Annual FinTech Conference (read more)
    • Topics: real-world asset tokenization, tokenized deposits, BaaS, FinTech in shaping the future of finance 
       
  • October 9-10: Chicago Fed Payments Symposium (read more)
    • Panel Session: Digital Currency, Digital Assets and Settlement 
       
  • October 9: NYU – Fireside chat w/ SEC Chair Gary Gensler (read more) 
     
  • October 1-2: Fed Banks of Atlanta, Boston, and Richmond – Technology Enabled Disruption: Implications of AI, Big Data, and Remote Work (read more)
    • Evening Keynote: A Conversation with the Federal Reserve Presidents 
       
  • September 26: 2024 U.S. Treasury Market Conference (read more)
    • Panel: Treasury Market Structure: Past, Present, and Future 
       
  • September 25: NIST – Unleashing AI Innovation, Enabling Trust: A Symposium to Discuss Recent Progress and Next Steps in AI measurements and standards (read more) 
     
  • September 19: SEC Investor Advisory Committee meeting (read more) 
     
  • September 18: Federal Reserve Board FOMC Press Conference 
     
  • September 18: HFSC Hearing – Protecting Americans’ Savings: Examining the Economics of the Multi-Billion Dollar Romance Confidence Scam Industry(read more)
    • TBD 
       
  • September 18: HFSC hearing – Dazed and Confused: Breaking Down the SEC’s Politicized Approach to Digital Assets (read more)
    • TBD 
       
  • September 17: Senate Judiciary Committee – Oversight of AI: Insiders’ Perspectives (read more)
    • Georgetown University, Google AI, OpenAI, UC Berkeley 

U.S. (State) 

Uniform Law Commission 

  • October 30: Virtual Currency Customer Protection – Drafting Committee meeting (read more) 

New York 

  • September 20: Assembly Standing Committee on Consumer Affairs and Protection & Assembly Standing Committee on Science and Technology – Ensuring Consumer Protection & Safety Relating to the Use of Artificial Intelligence (read more)
    • The Committees would like to hear testimony on existing laws and regulations in New York State, other states, or new initiatives being discussed at the state and federal levels regarding the use of AI related to consumer safety and protections. 

Texas 

  • October 1:Senate Business and Commerce Committee meeting (read more)
    • Innovative Power Generation: Explore emerging technologies with the potential to add new dispatchable power to our electric grid including, but not limited, to small modular nuclear reactors, advanced batteries, and new developments in hydrogen and geothermal resources. Identify and recommend regulatory and policy actions required to deploy emerging technologies within the state’s electric grid. 
       
  • September 19: House Committee on Pensions, Investments & Financial Services (read more)
    • HB 1666 – Relating to the Commingling of funds by digital asset service providers; providing an administrative penalty 
  • September 17: IT Caucus Emerging Technologies Lunch & Learn (read more) 
     

Wyoming 

  • September 19: WY Stable Token Commission meeting (read more) 
     
  • September 16-17: Select Committee on Blockchain, Financial Technology and Digital Innovation Technology meeting (read more)
    • WY Stable Token Commission Update 
    • Federal legislative update w/ U.S. Sen Cynthia Lummis (R-WY) 
    • Cryptocurrency Mining Update 
    • Artificial Intelligence (AI) Governance – info session re: AI liability, data provenance, and automated decision-making issues 
    • Bill draft – Defense of state banking 
    • Review of Select Cmte on Blockchain Enabling Legislation 
    • Special Purpose Depository Institutions (SPDIs) 
       

UK 

House of Commons & House of Lords in recess. Return October 7, 2024.  

  • September 17: UK Regulated Liability Network (RLN) experimentation phase – Final Report Launch (read more)
    • BoE Executive Director of Payments, Victoria Cleland, to speak 

Europe 

  • October 16: First-ever EU-GCC Summit  
     
  • September 26-27: ESRB – New Frontiers in Macroprudential Policy conference (read more)
    • Panel Discussion: Artificial Intelligence and Systemic Risk w/ Google, S&P, American University, University of Luxembourg 
       
  • September 26: ECroundtable on consolidation of market infrastructure in the EU (read more) 
     
  • September 26: BdF Seminar – Central Bank Digital Currency (CBDC) Wholesale component (wCBDC) (read more)
    • This webinar in English, simultaneously translated into French, details what an interbank central bank digital currency (known as “wholesale”) could look like: why? how? where do we stand? what are the next steps? 
       
  • September 25: EC Working Party – Financial Services and Banking Union (Digital Euro) (read more)
    • Continued examination of the Digital Euro proposals 
       
  • September 23: ESMA/ EBA – Hearing on the Guidelines under MICA establishing templates for explanations and legal opinions regarding the classification of crypto assets (read more) 
     
  • September 20: EBA – Public Hearing on Guidelines on templates to assist competent authorities in performing their supervisory duties regarding issuers’ compliance under MiCAR (read more) 
     
  • September 19: EC Working Party on Competition meeting (read more)
    • Presidency priorities 
       
  • September 18-19: ECB – Supervision Innovators Conference 2024: Technology and Banking Supervision Connected (Invite only & Online) (read more) 
     
  • September 18: EC Financial Services Committee meeting (read more)
    • Follow-up on the future of CMU 
    • ESMA update on the latest MiCA developments 
    • Update on ESMA’s supervisory approach and new mandates 
       
  • September 17: EC Working Party – Financial Services and Banking Union (Payment Services) meeting (read more)
    • Continued examination of legislative proposals on the Payment Services Directive and Regulation 
       
  • September 16-19: European Parliament Plenary Session (read more)
    • Address by Mario Draghi – Presentation of the report on the Future of European competitiveness 
    • Debate – The future of European competitiveness 
    • Presentation of the program of activities of the Hungarian Presidency 

Australia 

  • September 20: Parliamentary Joint Committee on Corporations and Financial Services – Financial Services Regulatory Framework in Relation to Financial Abuse (read more) 
     
  • September 19: Select Committee on Adopting Artificial Intelligence (AI) expected to produce a report to the Parliament on/before this date 
     

UAE 

  • September 18: US-UAE Business Council: Webinar on U.A.E.’s Enhanced AML/CFT Framework(read more)
    • Lara Murad, US Treasury Attaché to the UAE and Oman 
       
  • September 17: EU – UAE bilateral meetings  

Asia 

  • November 6-8: Singapore FinTech Festival (read more) 
     
  • October 28 – November 1: Hong Kong FinTech Week (read more) 
     
  • September 20-21: Solana Breakpoint (read more) 
     
  • September 18-19: Token 2049 Singapore (read more) 
     

Multilateral 
 

  • October 25: 10th BdF-BoE-BdI International Macroeconomics Workshop: Structural factors in the global economy (read more)
    • Financial fragmentation and the changing structure of the international monetary system 
       
  • October 21-25: IMF-World Bank Group 2024 Annual Meeting (Fall) (read more) 
     
  • October 4: BoE – Banque de France – Banca d’Italia – IMF – OECD – 5th International Capital Flows and Financial Policies Workshop (read more) (Invite-only)
    • The role of non-bank financial intermediation in the propagation of global shocks 
    • Capital flows in a digital age: international spillovers of crypto activities, stablecoins, and central bank digital currencies (CBDC) 
       
  • September 24-30: 79th session of the UN General Assembly – High-level general debate begins. 
  • September 20: IMF 2024 Michel Camdessus Central Banking Lecture w/ ECB President Christine Lagarde (read more) 
     
  • September 20: OMFIF – William Dudley on the Monetary Policy Outlook for the US (read more) 
     
  • September 17: OMFIF – Digital Assets 2024 Report: A Long Awaited Revolution (read more) 

Third-Party / Academic 

  • November 5: LSE – AI in public policy: opportunities and challenges (read more) 
     
  • October 22: City & Financial Global – Data, AI and the Future of Financial Services Summit 2024 (read more)
    • FCA’s Data Strategy and pro-innovation regulatory approach w/ FCA’s Jagpal Singh Jheeta, Chief Digital Product Officer 
    • Digital ID in the context of privacy and financial services w/ Rob Kotiarz, Co-Founder & President, OneID 
    • Digital Assets and Privacy w/ Dr Ruth Wandhöfer, Global Fintech 50 Influencer, International Keynote Speaker; Non-Executive Board Member, Aquis Exchange; Dr Ian Hunt, Industry Consultant and Author on Digital assets, Advisor on Tokenisation at Schroders 
    • The UK Government’s initiatives on enabling trustworthy innovation using data and AI. Understanding artificial intelligence ethics and safety 
       
  • October 21-24: DC FinTech Week (read more) 
     
  • October 21: SIFMA Annual Meeting in NYC (read more) ($$$)
    • Speakers include: CFTC Chair Behnam, SEC Chair Gensler, Fed Bank (Dallas) Lorie Logan, BlackRock’s Larry Fink,  
    • Program: TBD 
       
  • October 21: PIIE – Geopolitics and International Trade and Finance – Knowns and Unknowns (read more)
    • Impacts of geopolitics on international finance 
    • Policy implications and solutions 
       
  • October 15-17: Meridian 2024: Transformation (read more) 
     
  • September 26: ETA FinTech Policy Forum (read more)
    • FinTech – a view from Capitol Hill 
    • Identity and fraud in a digital world 
    • Regulators views on FinTech 
    • Digital Assets 
       
  • September 26: Atlantic Council – 2024 Transatlantic Forum on GeoEconomics (read more)
    • Securing the Global Financial System; Enabling Technology Innovation; Driving Energy Transition 
    • Speakers include: Dept of State, Dept of Commerce, Dept of Treasury, Nasdaq, Atlantik-Brucke, Stellar Development Foundation, White House National Security Council, Amazon Web Services, Dept of Justice, Goldman Sachs, European Parliament 
       
  • September 25: EBF-S&P Global Market Intelligence: The Future of Instant Payments: Challenges & Strategies in Europe (read more)
    • Dutch Payment Association, Italian Banking Association, European Banking Federation, Bizum 
       
  • September 24: Securities Enforcement Forum Central 2024 (read more)
    • Keynote Q&A Discussion with Tina Diamantopoulos, the new Director for the SEC’s Chicago Regional Office, as well as eight other panels 
       
  • September 24-26: Currency Research – The Central Bank AI Conference (read more) 
  • September 23: FPRI – How do Technological Revolutions Affect the Rise and Fall of Great Powers? (read more) 
     
  • September 20: CNAS – Confronting the Axis of Upheavel (read more)
    • House Armed Services Committee Ranking Member Adam Smith (D-WA) 
    • Vice Chairman of the House Armed Services Committee Rob Wittman (R-VA)  
       
  • September 19: Program on International Financial Systems – Roundtable on the Future of Digital Assets (read more) 
     
  • September 19: CEPS – The rise of the far-right in the EU: what, why and how? (read more) 
     
  • September 19: Axios – The State of Play for Crypto on Capitol Hill (read more) 
  • Sen. Gillibrand; Rep. Emmer; Better Markets; Consensys 
     
  • September 17: ForumGlobal – 6th Annual Data Privacy Conference – Washington, DC (read more) 
     
  • September 17: GDF Tokenization Forum (Hybrid) in NYC 
     
  • September 17: Brookings Institute: Global Conference on Frontier AI (read more)
    • Fireside chat: Nat Sec & AI w/ Jason Matheny, President & CEO, RAND 
    • Regulatory Foundations for AI Governance 
    • Cybersecurity and Systemic Risk (CFTC’s Pham speaking on a panel) 
    • Privacy 
       
  • September 17: Georgetown University – Financial Markets Quality Conference 2024 (read more)
    • Market structure w/ Morgan Stanley, WFE, Cboe, Nasdaq 
    • Innovation in ETFs w/ SEC, Dimensional Fund Advisors LP, BlackRock 
    • Crypto & financial Markets w/ Robinhood, Bullish, Grayscale, Ripple, WEF 
    • Regulatory Roundtable w/ US SEC (Uyeda), CFTC (Pham), Treasury (Sandra Lee) 
    • Keynotes: CFTC’s Behnam, Rep. Patrick McHenry, Sen. Cynthia Lummis, CME CEO Terry Duffy; LSEG CEO David Schwimmer, Treasury’s Nellie Liang; JPM CEO Jamie Dimon 
       
  • September 17: OMFIF – Digital Assets 2024: A Long-Awaited Revolution (read more) – R3 & Stellar sponsoring
    • The report will explore:
      • Which asset classes will be tokenized 
      •  Where tokenised cash will come from – central banks? Commercial banks? A stablecoin provider? 
      • How the roles of financial market infrastructure providers will change with DLT 
      • Whether regulators should re-examine the oversight of digital asset custodians 
         
  • September 17: Politico: AI & Tech Summit – American Leadership, Security and Democracy (read more) 
     
  • September 16: Atlantic Council – Can Europe Get Competitive? Insights from Mario Draghi’s Competitiveness Report (read more) 

Standing Against SEC Overreach: Defending DeFi Innovation and Financial Inclusion

by Nicole Rankin

The Digital Chamber (TDC) strongly opposes the SEC’s latest lawsuit against Consensys, the creator of the MetaMask crypto wallet. This action, targeting DEX routing and staking services, is another troubling example of the SEC’s overreach. 
 
DeFi platforms like MetaMask’s Swaps and Staking democratize finance, providing greater autonomy, efficiency, and access to financial services. They empower the unbanked and underbanked, promoting financial inclusion and accessibility. The SEC’s claim against Consensys misinterprets the technology and stifles progress that could benefit millions.
 
The SEC’s repeated enforcement actions, without clear rules, violate their investor protection mandate and create market uncertainty. With the recent end of Chevron deference, this regulatory ambiguity should not stand. 
 
We stand with Consensys and the wider community in advocating for fair regulation that fosters innovation, protects investors, and promotes financial inclusion. Enough is enough—it’s time for the SEC to stop attacking the digital asset industry and embrace the future of finance.

The Digital Chamber Applauds House Passage of the FIT for the 21st Century Act 

by Nicole Rankin

The Digital Chamber is pleased to see H.R. 4763, the Financial Innovation and Technology (FIT) for the 21st Century Act has successfully passed the House with a vote of 279-136 and is now advancing to the Senate.  

The current regulatory environment in the U.S. has created uncertainty, driving businesses overseas, stifling innovation, and resulting in a loss of jobs and investment. This lack of regulatory clarity has allowed other jurisdictions to advance significantly in creating guidelines, leaving the U.S. behind. Addressing these issues, the FIT for the 21st Century Act establishes clear guidelines for the classification, trading, and regulation of digital assets while preserving and strengthening consumer protection.   

The passage of this bill is the result of over four years of dedicated policy work. The Digital Chamber has been instrumental in advancing this legislation through several key strategies: 

  • Policy Development: Since 2020, we have worked with Congressional stakeholders to create comprehensive market structure legislation, initially introduced as the “Digital Commodity Exchange Act” in 2020.  
  • Industry Engagement: We have collaborated with over 200 digital asset businesses over four years to weigh in on the legislative text, playing a key role in ensuring the bill promotes market integrity, protects consumers, and reduces the risk of fraud and manipulation. 
  • Advocacy: The Digital Chamber has reached all 535 Members of Congress, urging the support of market structure legislation passage.  

The Digital Chamber’s Founder and CEO, Perianne Boring, said the following passage: 

“We are proud to see the FIT for the 21st Century Act passed with overwhelming bipartisan support. Today’s vote was not about the merits of crypto but instead was about acknowledging the need to create a safe market and trading environment for the over 50 million Americans using digital assets today.” 

We thank Congressmen G.T. Thompson (R-PA), French Hill (R-AR), Dusty Johnson (R-SD), Warren Davidson (R-OH) and Tom Emmer (R-MN) for their leadership and the leadership of the congressional staff who worked tirelessly to craft rules of the road for digital asset market participants, without compromising consumer protection.  

The Digital Chamber is committed to advocating for and educating about the FIT for the 21st Century Act as it moves to the U.S. Senate. Our goal is to see this pivotal legislation reach President Biden’s desk for signature.  

But, we still need your help. Here’s how you can take action:  
Call your Senator today at (202) 224-3121 and urge them to pass the FIT for the 21st Century Act. By taking this simple step, you’ll advocate for a brighter future for consumer protection, innovation, and job creation in the U.S. 

For media inquiries, please contact press@digitalchamber.org. 

Call for Public Comment – Non-Fungible Tokens Education and Emerging Practices

by Nicole Rankin

I am pleased to share with you a significant milestone in our ongoing efforts to shape public policy related to Non-Fungible Tokens (NFTs) and the metaverse.  

I have the privilege of leading the NFT Working Group. The Digital Chamber is leading an effort to draft emerging practices for NFTs that we hope to have considered for formal recommendations to the Commodity Futures Trading Commission. 

This is where you come in: In an effort towards transparency and inclusivity, we would like to invite the entire community to participate in shaping our emerging practices and recommendations for NFTs. 

Today, we are making our draft report public and opening a comment period on our website. Following the closure of comments on April 26, 2024, The Digital Chamber will carefully review all feedback, integrate the relevant suggestions, and then present the finalized report to the NFT Working Group, and then the Digital Asset Markets Subcommittee for presentation. 

COMMENT PERIOD ENDED


I invite you to take advantage of this unique opportunity to help shape the blockchain policy landscape. 

Your insights are invaluable to us, and we encourage you to share your feedback.  
​​
Sincerely,  



Perianne Boring
Founder and CEO,
The Digital Chamber


Title: Non-Fungible Tokens, Education and Emerging Practices

Start Date: April 5, 2024 
End Date: April 26, 2024  

COMMENT PERIOD ENDED


Industry Statement on EIA’s Emergency Survey 

by Nicole Rankin

Industry Statement on EIA’s Emergency Survey 

The following statement can be attributed to Lee Bratcher, Board Member and President at the Texas Blockchain Council, and Perianne Boring, Founder and CEO of the Chamber of Digital Commerce, in response to the U.S. Energy Information Administration (EIA) announcing an unprecedented Information Collection Request from identified cryptocurrency mining companies operating in the United States: 

“The EIA’s mandatory emergency survey of electricity consumption data represents the latest in a politically motivated campaign against Bitcoin mining, cryptocurrency, and U.S.-led innovation. We believe this should cause concern for all industries that rely on data centers as part of their operations.  

Instead of focusing on improving our aging electricity infrastructure and working to ensure grid stability, the Department of Energy and EIA have prioritized taking unprecedented steps to target private businesses for political purposes. This action is an abuse of authority in order to further the Biden administration’s public goal “to limit or eliminate” U.S. Bitcoin miners, while pleading ignorance to U.S. miner’s utilization of renewable resources and uniquely flexible operations.  

Thanks to Bitcoin miners’ ability to rapidly adjust their data centers’ power usage according to grid conditions, their operations are the most flexible and responsive electrical loads in the nation. It is well known that they offer critical grid stabilizing benefits to the communities in which they operate. These capabilities were on full display during recent periods of cold weather in Texas, which the EIA boldly cites in its justification for this misguided measure. If the stated justification for this emergency action – concern with data centers potentially overloading the grid – is to be trusted, other industries, such as financial institutions and social media companies, should now also be on notice of this troubling new tactic.  

Bitcoin miners comprise one of the most transparent industries in the world. (See, e.g., EIA Website, Hashrate Index, Cambridge University, Texas A&M, ERCOT Data). Moreover, each data center’s development entails exhaustive investment, administrative, procurement, and construction processes before they can begin operations. These facts belie the purported justification for this ‘emergency’ mandate.  

This is an attack against a legitimate American businesses with the administration feigning an emergency to score political points. The White House has been clear that they desire to ‘to limit or eliminate’ Bitcoin miners from operating in the United States. Although Bitcoin is resilient and cannot be banned, the administration is seeking to make the lives of Bitcoin miners, their employees, and their communities too difficult to bear operating in the United States. This is deeply concerning.  

We strongly believe EIA has overstepped its authority in issuing this emergency mandate. We urge the Biden administration to reconsider this course of action. Until that time, we will be pursuing all legal recourses available to us.”