Chamber Blog

Statement on President’s Working Group Report on Stablecoins

Statement on President’s Working Group Report on Stablecoins

Statement from the Chamber of Digital Commerce on the release of the President’s Working Group (PWG) on Financial Markets “Report on Stablecoins”November 1, 2021“We are pleased to see that The President’s Working Group (PWG) report notes the important role stablecoins...

FATF Guidance Update

FATF Guidance Update

FATF Guidance UpdateOctober 29, 2021Introduction The Financial Action Task Force (FATF) yesterday published Updated Guidance for a Risk Based Approach for Virtual Assets and Virtual Asset Providers.  This revision amends the FATF guidance originally published in 2019...

FATF Guidance Update

FATF Guidance Update

FATF Guidance UpdateOctober 29, 2021Introduction The Financial Action Task Force (FATF) yesterday published Updated Guidance for a Risk Based Approach for Virtual Assets and Virtual Asset Providers.  This revision amends the FATF guidance originally published in 2019...

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New York’s Proposed Ban on Cryptocurrency Mining Takes Two Steps Back – Freezing Innovation and Undermining U.S. National Security

New York’s Proposed Ban on Cryptocurrency Mining Takes Two Steps Back – Freezing Innovation and Undermining U.S. National Security

The Chamber of Digital Commerce strongly opposes legislation introduced in New York –– NY S. 6486 and NY A. 7389 –– to establish a three-year ban on cryptocurrency mining. This legislation is harmful to the cryptocurrency mining industry. The ban pushes businesses out of the state, hurting jobs and revenue growth. And it freezes innovation –– in an area where the United States is already lagging behind other countries, such as China –– threatening our national security. It’s a significant concern, given the two trillion dollar market capitalization of cryptocurrency today, which is growing exponentially.

Chamber to IRS: Tax Payers Need Guidance on Crypto Tax Rules

Chamber to IRS: Tax Payers Need Guidance on Crypto Tax Rules

Chamber to IRS: Tax Payers Need Guidance on Crypto Tax RulesMay 17, 2021 Over the past five years, the Internal Revenue Service (IRS) has significantly increased enforcement actions against taxpayers who transact in digital assets. But, while ratcheting up its...