Tag: policy

Last Updated: May 12, 2025

On February 21, SEC Commissioner Peirce published “There Must Be Some Way Out of Here,” a request for public input to assist the Crypto Task Force as they consider policy initiatives across a wide range of digital asset issues that echo most, if not all, of our Token Alliance Leadership Committee 2025 SEC Policy Priorities. The request sets out 48 detailed questions. TDC has broke out our efforts around this project into 13 different workstreams. We launched the first seven of these workstreams at the beginning of April and are now starting to provide feedback to the SEC on a rolling basis as we complete each of these workstream’s set of responses. See Commissioner Peirce’s questions and our responses below.

Question 3

3. Certain crypto assets are used in a variety of functions inherent to the operation of a blockchain network, such as mining or staking as part of a consensus mechanism or securing the network, validating transactions or other related activities on the network, and paying transaction or other fees on the network. These technology functions may be conducted directly or indirectly, such as through third-party service providers. What types of technology functions are inherent to the operation of a blockchain network? Should the Commission address the status of technology functions under the federal securities laws and, if so, what issues should be addressed? TDC response here.

 Questions 35-39

35. If the listing exchange does not have an SSA with a regulated market and no regulated market for the crypto asset underlying an ETP exists, could the listing exchange address concerns regarding fraud and manipulation based on the size and liquidity of the underlying spot market? What would be an appropriate measure of size and liquidity that would address these concerns? Are there more appropriate ways to address concerns regarding fraud and manipulation?
36. How should the Commission consider market capitalization, unique number of wallets, trading volume, the number of spot markets, geographic distribution of spot markets, size and frequency of price divergences, or speed of price convergence/arbitrage?
37. How should the Commission consider crypto asset-based ETPs that are investing in assets that are already referenced in crypto asset-based exchange-traded funds registered as investment companies under the Investment Company Act?
38. What factors should the Commission consider with respect to an SSA between an
    exchange listing an ETP on a crypto asset and a spot crypto market?
39. How should the Commission weigh the reliability, frequency, and dissemination of pricing information on the crypto assets underlying the ETP in its consideration?

TDC response here.

If you have any questions, please reach out to Policy@digitalchamber.org

May 9, 2025  

On, May 9, The Digital Chamber formally submitted a letter of opposition to SB 1797, the “Digital Assets Consumer Protection Act (DACPA)”, currently under consideration in Illinois. While we appreciate the intent to provide regulatory clarity and consumer protections, the bill as written would severely hinder innovation, economic growth, and the long-term competitiveness of the blockchain and digital asset industry in the state.

The Chamber’s letter urges lawmakers to reconsider the proposal’s broad and restrictive provisions, which risk pushing cutting-edge businesses and technology development out of Illinois. As the world’s first and largest blockchain trade association, we remain committed to working collaboratively with policymakers to craft forward-thinking legislation that supports responsible innovation and safeguards consumer interests. We hope that the Illinois legislature will consider the unintended externalities of this legislation and modify it for the benefit of Illinoisans. 

Read the full letter here.

About The Digital Chamber

The Digital Chamber is the world’s leading trade association representing blockchain and digital asset businesses. Founded in 2014, the organization has been instrumental in shaping policy, educating lawmakers, and driving regulatory clarity to support the responsible growth of the digital asset industry. For more information, visit www.digitalchamber.org.

May 7, 2025  

By: Jean-Philippe Beaudet 

Advanced Persistent Threats (APTs) are covert cyber-attacks where an attacker gains access to a computer network and remains undetected for an extended period of time, either lying in wait to attack at an opportune time in the future or manipulating the network undetected in the background for months or years. 

According to the Joint Cybersecurity Advisory – an international consortium of intelligence and security organizations – the past few years have seen significant nation-state-backed cyber-attacks against the United States:  

• Chinese-affiliated Volt Typhoon, “has compromised the IT environments of multiple critical infrastructure organizations – primarily in Communications, Energy, Transportation Systems, and Water and Wastewater Systems (WWS) sectors.”¹ 

• “Russian state-sponsored APTs have used sophisticated cyber capabilities to target a variety of U.S. and international critical infrastructure organizations, including those in the Defense Industrial Base as well as the Healthcare and Public Health, Energy, Telecommunications, and Government Facilities Sectors.”² 

• “[Iranian Revolutionary Guard Corps]-affiliated APTs are actively targeting programmable logic controllers (PLCs). These PLCs are commonly used in the WWS Sector and other industries including, but not limited to, energy, food and beverage manufacturing, and healthcare.”³ 

Securing critical physical infrastructure and the software it utilizes is a central concern for U.S. national security professionals because these systems underpin every critical service we rely upon for our livelihood and survival. Blockchain technology offers innovative solutions to enhance security, ensure operational integrity, and mitigate risks to these vital assets.  

Immutable Audit Trails for Infrastructure Monitoring  

Blockchain’s decentralized and immutable ledger provides a secure solution for monitoring physical infrastructure. Every operation, system update, and status change can be permanently recorded on the blockchain, allowing stakeholders to audit infrastructure activity in real-time. This transparency ensures that tampering or malicious attempts to compromise critical systems—whether through physical effects or non-kinetic cyber-intrusions—are instantly detectable. Unauthorized changes or anomalies can trigger immediate alerts, empowering operators to react swiftly to mitigate damage and prevent wider-scale disruptions.  

Securing Operational Technology with Decentralized Control  

Operational Technology (OT) systems, such as those controlling power grids, water treatment facilities, and transportation networks, are critical to our national infrastructure. Centralized OT systems are vulnerable single points of failure, where cyber-attacks or insider threats at one entry point could compromise entire networks. Distributing these nodes through a blockchain network significantly reduces the risk of system compromise. This decentralization adds resilience by making it exceedingly difficult for adversaries to launch successful attacks on large-scale infrastructure.  

Strengthening Supply Chain Integrity  

The physical components of critical infrastructure – from transformers in power grids to sensors in water treatment plants – often pass through complex global supply chains before reaching their destination. Blockchain technology paired with Internet of Things (IoT) monitoring provides end-to-end visibility of each component’s journey, ensuring that only verified, authenticated, and untampered-with materials are used in infrastructure systems. By securely recording every transaction and transfer on an immutable ledger, blockchain greatly diminishes the risk of counterfeit or compromised parts being introduced into critical infrastructure, reducing the ability of adversaries to exploit systemic vulnerabilities.  

Implementation of blockchains in service of protecting our critical infrastructure is perhaps one of the most important and efficacious uses cases to date for the technology and we strongly support research, investment, and implementation of them to safeguard U.S. national security.  

The Digital Chamber will continue to collaborate with policymakers, researchers, and industry leaders to advance the integration of blockchain into our nation’s physical infrastructure, protecting the services and resources our citizens depend on. 

About The Digital Chamber

The Digital Chamber is the world’s leading trade association representing blockchain and digital asset businesses. Founded in 2014, the organization has been instrumental in shaping policy, educating lawmakers, and driving regulatory clarity to support the responsible growth of the digital asset industry. For more information, visit www.digitalchamber.org.

It goes without saying that we are at a pivotal moment for the global payments ecosystem. Emerging technologies presenting seamless, real-time, and transparent digital movement of payments across borders, coupled with new and expanding financial architectures that are increasingly being folded into broader strategic geopolitical shifts and realignment policies, amid heightened competition (with both friendly and adversarial countries) that could jeopardize the U.S. dollar’s pre-eminent global position as the world’s reserve currency are all converging, simultaneously. Capturing the opportunities presented by this convergence are immense; so too are the potential economic and monetary headwinds from failing to prioritize and instill U.S. leadership in the digital payments space race. While the U.S. has been slow to get out of the gate on payment stablecoin policy in comparison to other jurisdictions, the recent advancements of both the STABLE Act and GENIUS Act provide Congress with a unique opportunity to bolster U.S. competitiveness and solidify the dollar’s role in the digital era.  

The bipartisan votes to move both the GENIUS Act and STABLE Act through the Senate Banking Committee and the House Financial Services Committee, respectively, represent a seminal moment for payment stablecoin policy in the U.S. For the first time ever, both committees successfully moved payment stablecoin legislation that provides for a robust federal framework responsive to the next evolution of payments. As committee staff continue to work tirelessly to reconcile both pieces of legislation – legislation that The Digital Chamber has been actively engaged in – it is worth noting that the objectives of both legislative texts are not to simply cater to the demands of industry, but rather to redefine, reimagine, and reinforce U.S. competitiveness and the global role of the U.S. dollar in the digital era. As Rep. Bryan Steil (R-WI) aptly put it: “This legislation is a foundational step towards securing the future of financial payments in the United States and solidifying the dollar’s continued dominance as a world reserve currency.” 

A ‘foundational step’ that opens the door to a wide variety of opportunities.  

Take, for instance, the opportunity to move the legislative conversation away from merely speaking about past incidents and hypothetical situations to firmly establishing a federal framework that seeks to address the challenges raised by those past incidents and hypothetical situations. Policymakers and regulators have raised, and continue to raise, concerns about the various risks associated with payment stablecoins, including just how ‘stable’ stablecoins really are. Reports from various jurisdictions and multilateral forums further amplify these concerns – which are justifiably raised, given the demise of past stablecoin issuers and the widespread wealth destruction resulting from the associated fallout. But it is disingenuous to the broader policy debate to raise these concerns without also discussing the regulatory regimes already in place – whether at the State level, in international jurisdictions, or through emerging policy frameworks, such as the STABLE Act or the GENIUS Act. Any serious analysis of the risks and challenges stablecoins may pose must weigh them against these existing and developing standards. Establishing a federal framework that can responsibly address such risks and hypotheticals, while establishing robust protections for users, could put an end to merely talking about one side of the equation. 

Furthermore, we cannot ignore the opportunity to create alternative avenues to purchase U.S. debt. As the U.S. Treasury recently highlighted in its October 2024 report to the Treasury Borrowing Advisory Committee, or TBAC, more than $120 billion worth of collateral backing stablecoins currently in circulation are directly invested in U.S. Treasuries (approximately 2.5% of U.S. Treasury bills (T-bills)). Treasury acknowledged in the report that the structural demand for U.S. Treasuries “may increase as the digital asset market cap grows, both as a hedge against downside price volatility and as an ‘on-chain’ safe-haven asset.” Treasury also stated that the continued growth “in stablecoins, assuming the current trend in stablecoin collateral choices continues (or is forced by a regulator), will create structural demand for short-dated U.S. Treasuries − Recommended issuance should on the margin lean to a higher proportion of T-bills.”  

Both legislative texts would require permitted payment stablecoin issuers to hold reserves that would include U.S. Treasuries. A recent report from Standard Chartered, as described in CoinDesk, found that a federal framework “would further legitimize the stablecoin industry” with the bank also estimating that total stablecoin supply could rise from $230 billion today to $2 trillion by year-end 2028. The bank also estimated that the increase in stablecoin issuance would require the additional buying of $1.6 trillion of Treasury bills over the next four years which “would be enough to absorb all the fresh T-bill issuance planned for the rest of Trump’s second term.” Overall, stablecoin issuers may become the second-largest buyers of T-bills after money-market funds, which currently hold around $2.4 trillion in T-bills. An alternative buyer of T-bills is sorely needed when you consider foreign central bank holdings of U.S. Treasuries continue to decline, as The Digital Chamber recently noted. 

In addition to opening up alternative avenues to purchase U.S. debt, the development of a federal framework and the proliferation of US dollar-pegged payment stablecoins globally also presents alternative avenues to access and utilize U.S. dollars, especially in more marginalized communities or developing economies. In its report, Stablecoins: The Emerging Market Story, Castle Island Ventures not only found that the use cases for stablecoins were broadening beyond their primary use case in facilitating crypto transactions, but also that stablecoin activity was decoupling from broader crypto market cycles proving that stablecoin adoption “has moved beyond merely serving crypto users and trading use cases.” The study also found that of the non-trading use cases, currency conversion (to dollars) is the most frequently reported activity, followed by paying for goods, cross-border payments, and paying or receiving a salary. “Overall, 47 percent of respondents indicated that one of their major goals was saving money in dollars, 43 percent mentioned better currency conversion rates, and 39 percent said earning a yield. The findings are clear: non-crypto uses account for a meaningful share of stablecoin usage modes in the countries surveyed.” 

 These findings were also echoed in a recent blog post sponsored by the Payments Forum of the Federal Reserve Bank of Atlanta. Chris Colson writes: 

“While it’s hard to predict whether or not stablecoins will become a universal payment method, the foundation is forming. Once seen as a hedge against crypto volatility, stablecoins are establishing themselves as a new, innovative payment type. These digital currencies are influencing the future of payments such as purchasing a coffee with a gift card purchased with stablecoins or buying a ticket for a movie at a discount.  

One thing is certain: the future of payments looks a lot more stable.” 

By opening up alternative avenues to purchase U.S. debt and broadening access to U.S. dollar-linked instruments, dollar dominance has taken hold in the payment stablecoin market with approximately 99 percent of the market referencing the U.S. dollar. As U.S. Treasury Secretary Scott Bessent recently remarked, “As President Trump has directed, we are going to keep the U.S. the dominant reserve currency in the world, and we will use stablecoins to do that.” Other countries – both allies and adversaries – are taking notice, however, which again highlights the need for the U.S. to get engaged through enacting a federal payment stablecoin regime.  

Take, for instance, recent discussions in Europe where officials at the European Central Bank (ECB) are searching for answers to address the growing USD-referenced stablecoin market. Ulrich Bindeil, ECB Director General, Market Infrastructure & Payments, raised concerns about the lack of adoption of euro stablecoins during a European Parliament Economic and Monetary Affairs meeting, before recommending a review of the business case and the role of stablecoins for the international role of the euro, including potential adjustments to the EU’s regulatory framework and central bank rules. Similar concerns were raised by Piero Cipollone, Member of the Executive Board of the ECB, where he noted that recent measures taken by the Trump Administration to promote crypto-assets and US dollar-backed stablecoins “raise concerns for Europe’s financial stability and strategic autonomy.” He added: “They could potentially result not just in further losses of fees and data, but also in euro deposits being moved to the United States and in a further strengthening of the role of the dollar in cross-border payments. At the same time, private businesses are increasingly open to accepting stablecoins for customer payments, which could have far-reaching implications for monetary sovereignty.” 

Or, take recent concerns expressed by a Chinese economic think tank about the proliferation of US dollar stablecoins globally. “Once the US dollar stablecoin links the international credit of the US dollar with the application scenarios of the virtual world more closely, it may greatly consolidate the hegemony of the US dollar,” the article states.  

The STABLE Act and GENIUS Act present the opportunity for the U.S. to leap ahead of the competition and solidify the integrity and role of the US dollar in the digital era. The only question is, is the U.S. willing to lead, or cede? 

Washington, D.C., April 14, 2025 – The Digital Chamber wholeheartedly supports the recent decision by the U.S. Department of Justice (DOJ) to refrain from prosecuting entrepreneurs and innovators in the digital assets sector for inadvertent lapses in complying with complex and evolving rules.  Reigning in prosecutors from misusing strict liability standards for failure to register as a money services business marks a significant step forward in fostering a fair and just regulatory environment for the burgeoning digital assets industry. 

The DOJ’s decision aligns closely with the core principles of 18 U.S.C. § 1960. This statute is designed to combat money laundering and other illegal activities by dismantling operations that enable such crimes. Its primary purpose is to equip law enforcement with the tools to target those who intentionally exploit the financial system for illicit gain. However, it was never meant to penalize individuals or entities that are committed to compliance, even in the face of complex and sometimes unclear regulations. 

We are particularly encouraged by the clear directive articulated by Deputy Attorney General Todd Blanche emphasizing that the Department’s investigative and prosecutorial focus within the digital asset space will be squarely aimed at “prosecuting individuals who victimize digital asset investors, or those who use digital assets in furtherance of criminal offenses such as terrorism, narcotics and human trafficking, organized crime, hacking, and cartel and gang financing.” This strategic prioritization underscores a commitment to protecting consumers and national security, aligning law enforcement resources with the most significant threats. 

The Deputy Attorney General’s further guidance that prosecutors should generally refrain from criminalizing regulatory violations, including but not limited to unlicensed money transmitting under 18 U.S.C. § 1960(b)(I)(A) and (B), Bank Secrecy Act violations, unregistered securities or broker-dealer offerings, and other registration infractions under the Commodity Exchange Act, absent clear evidence of the defendant’s knowing and willful violation of such requirements, is appropriate and consistent with the original legislative intent. This exercise of prosecutorial discretion acknowledges the genuine challenges faced by innovators and entrepreneurs navigating a rapidly evolving technological and regulatory landscape. It recognizes that unintentional non-compliance, born from a lack of clarity or genuine misunderstanding of complex rules, should not be equated with deliberate criminal conduct. 

The Digital Chamber also welcomes the Justice Department’s active participation in President Trump’s Working Group on Digital Asset Markets, established by Executive Order 14178. The designation of senior legal experts to this vital body underscores the DOJ’s commitment to engaging proactively in the development of a clear and effective regulatory framework for digital assets. This collaboration between policymakers, regulators, and industry stakeholders will be crucial for fostering a balanced and sustainable ecosystem. 

The Digital Chamber also applauds Acting Commodity Futures Trading Commission (CFTC) Chairman Caroline Pham’s statement lauding the DOJ’s policy of ending the practice of regulation by prosecution that has targeted the digital asset industry in recent years and directing CFTC staff to comply with the President’s executive orders and Administration policy, consistent with DOJ’s digital assets enforcement priorities and charging considerations. As Acting Chairman Pham noted in her statement, “[F]or far too long, lawfare from multiple federal agencies against innovators in the digital asset space has created unfairness and uncertainty that has undermined trust in the regulatory process and impeded American competitiveness.” 

The Digital Chamber firmly believes that clarity, education, and open dialogue are essential for the responsible growth of the digital asset industry. The DOJ’s recent decision reflects these principles and provides a crucial foundation for building a regulatory environment that encourages innovation while safeguarding the integrity of the financial system. We commend the Department for its thoughtful approach and look forward to continued collaboration to ensure the United States remains a leader in the digital asset revolution. 

____________________________________________________________________________________ 

Kristopher Klaich 
Director of Policy, The Digital Chamber 

If you have any questions, please reach out to Policy@digitalchamber.org.

Below are The Digital Chamber (TDC)’s core market structure principles—the foundational tenets that should guide digital asset legislation. While legislative text will be broader in scope, these principles reflect the consensus of our membership, the largest and most diverse in the United States, spanning key industry stakeholders.

1. Provide robust consumer protections, including transparent and timely disclosures and pathways for recourse.
2. The Commodity Futures Trading Commission (CFTC) should be recognized as the primary regulator for digital asset markets (outside capital raising activities or representing equity or debt interests traditionally recognized as securities).
3. Fungible digital assets should be presumed commodities by default unless they meet a specific, narrowly defined set of criteria establishing them as securities or other. 
4. Rulemaking for the spot market for digital asset commodities should fall to the CFTC. Regulatory frameworks for digital asset intermediaries should leverage existing registration categories rather than create new, duplicative, or burdensome regimes.
5. For digital assets that are securities, the SEC shall use its exemptive authority to implement exemptive relief under: 
   • Section 28 of the Securities Act of 1933,  
   • Section 36 of the Securities and Exchange Act of 1934,  
   • Section 6(c) of the Investment Company Act of 1940, and  
   • Section 206A of the Investment Advisers Act of 1940– to harmonize its rules for the protection of investors and facilitation of capital formation.  

If you have any questions, please reach out to Policy@digitalchamber.org

As part of its Gaming Workstream and partnership with the Blockchain Game Alliance, The Digital Chamber has submitted a formal comment letter to the Consumer Financial Protection Bureau (CFPB) regarding its proposed interpretation of Regulation E as applied to blockchain gaming platforms and self-hosted digital asset wallets. The rule interpretation sought to classify wallets and gaming platforms as financial institutions subject to the Electronic Fund Transfer Act (EFTA) and its corresponding Regulation E compliance requirements. While we commend the CFPB’s commitment to strengthening consumer protection, we explain that applying Regulation E to these technologies is technically infeasible and risks undermining innovation in the blockchain space. 

What You Need to Know:

1. Self-Hosted Wallets and Developers Fall Outside EFTA and Regulation E
   • Self-hosted wallets are not financial accounts, are not controlled by intermediaries, and their developers do not function as financial intermediaries. These wallets simply provide users with tools to access blockchain networks and fall outside the scope of Reg. E. 
2. CFPB Should Align with FinCEN’s 2019 Guidance
   • FinCEN has already determined that self-hosted wallet providers are not money services businesses (MSBs) under the Bank Secrecy Act. We urge the CFPB to adopt a consistent approach. 
3. Blockchain Gaming Platforms Do Not Provide Financial Accounts 
   • Web3 gaming platforms provide profile accounts for gameplay, not for asset custody. Players retain full control of their assets through a “bring your own wallet” model, and transactions occur externally via licensed third-party marketplaces and payment processors—not within the game itself. 
4. Irreversible Blockchain Transactions Preclude EFTA Compliance 
   • Because blockchain transactions are irreversible by design, game publishers cannot reverse, adjust, or cancel them. Applying EFTA’s consumer protections as written would impose impossible obligations. 
5. Blockchain Enhances Consumer Protection 
   • However, blockchain gaming platforms and self-hosted wallets reduce the risk of asset loss and unauthorized transactions, while empowering users with full control over their assets—even if a game is discontinued. 
6. NFTs Are Correctly Excluded from the Definition of “Funds” 
   • We support the CFPB’s conclusion that NFTs are not “funds” under Regulation E, as they function more like collectibles or digital goods rather than mediums of exchange. 

We respectfully urge the CFPB to consider these technical realities and avoid imposing infeasible compliance burdens on blockchain gaming platforms and wallet providers. TDC, the Blockchain Game Alliance, and our respective members stand ready to assist the Bureau in advancing responsible innovation while protecting consumers. 

Read the full comment letter here. 

Washington, D.C. –  The Digital Chamber (TDC) recently strengthened its advocacy efforts through the addition of Shayla Moon, Director of Government Relations. “We’re thrilled to welcome Shayla Moon as our new Director of Government Relations at the Digital Chamber. Shayla’s incredible experience, deep network, and undeniable talent make her the right leader at the right time. As Washington prepares to move the first-ever digital asset legislation over the finish line, I have full confidence in Shayla’s ability to lead that charge and deliver real results for our members and the broader industry.” – Cody Carbone – CEO of The Digital Chamber. 

“I am excited to join the Digital Chamber team during this transformative period for the blockchain and digital asset industry. Leveraging my experience in legislative affairs and my deep passion for innovation and economic empowerment, I look forward to advancing efforts to engage policymakers and stakeholders on key issues shaping the future of Web3.” – Shayla Moon – Director of Government Relations of The Digital Chamber. 

Shayla Moon is a dedicated advocate for bipartisan collaboration and global competitiveness in today’s rapidly evolving digital economy. As the new Director of Government Relations at the Digital Chamber, she will help to engage policymakers on legislative and regulatory matters that shape the future of blockchain, Web3, and emerging technologies. With a deep background in public affairs, economic development, and trade association leadership, Shayla is committed to fostering an environment where innovation thrives. 

Her career is defined by a strong commitment to bridging political divides and advancing policies that fuel economic growth. Before joining the Digital Chamber, she was Senior Vice President of the Greater Washington Board of Trade, spearheading initiatives that strengthened the region’s business ecosystem. She has also held policy leadership roles at the National Urban League and the U.S. Department of Commerce, where she influenced key legislative efforts on economic policy, housing, and international trade. Throughout her work with trade associations and nonprofits, Shayla has been a consistent champion for solutions that enhance economic resilience and expand opportunities for businesses and communities alike. 

Beyond traditional policy work, Shayla has played an instrumental role in advancing bipartisan initiatives—from supporting nuclear arms reduction through the New START Treaty to advocating for intellectual property protections in collaboration with the Motion Picture Association of America and Creative Future. Her advocacy underscores a steadfast commitment to policies that drive innovation, safeguard economic interests, and promote U.S. leadership in emerging technologies. 

A proud United States Air Force veteran and HBCU graduate, Shayla remains deeply engaged in community service, lending her expertise to nonprofit boards and advocacy organizations. When she’s not shaping the future of blockchain policy, she enjoys gaming, skiing, and adding to her sneaker collection. 

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About The Digital Chamber 
The Digital Chamber is the world’s leading trade association representing blockchain and digital asset innovators. Founded in 2014, the organization has shaped national policy, defended the industry during its most challenging periods, and secured bipartisan support for blockchain innovation. Today, The Digital Chamber is building the future of the digital economy through education, advocacy, and strategic engagement in Washington and around the world. 

Website: www.digitalchamber.org 

Washington, D.C. – The Digital Chamber proudly presented a special Hero Award to Tigran Gambaryan at the 2025 DC Blockchain Summit, recognizing his extraordinary courage, resilience, and unwavering commitment to combating illicit finance in the digital asset industry. The award was presented by U.S. Rep. Warren Davidson in a powerful moment that underscored the values of justice, freedom, and integrity. 

A former IRS Special Agent and current Binance executive, Tigran was unjustly detained in Nigeria for nearly a year in 2024 while working to promote compliance and responsible practices in the digital asset space. Despite enduring significant physical and emotional hardship, he remained steadfast in his principles — a powerful example of integrity in the face of adversity. 

“We are humbled to honor Tigran Gambaryan with the Hero Award,” said Perianne Boring, Founder and CEO of The Digital Chamber. “His life’s work — both in law enforcement and in the private sector — has made this industry safer and more accountable. His unjust detention highlighted the very real risks faced by those who uphold the rule of law. Today, we celebrate his strength, his service, and his return.” 

Congressman Davidson, a longtime advocate for civil liberties and financial innovation, delivered remarks before presenting the award and shared this statement: 

“I am proud to recognize Tigran Gambaryan – a U.S. citizen – for his resilience and bravery in the face of his unjust detention in Nigeria. His release is a relief, but it never should have happened—no American should be used as leverage by a foreign government. I’m honored to present him with the Hero Award and to welcome him home.” 
  
“I’m deeply honored to receive this award and want to sincerely thank The Digital Chamber, the U.S. government, my incredible wife Yuki, and the countless friends—both personal and professional—who worked tirelessly to bring me home. Your support carried me through the darkest days. I hope what happened to me never happens to another compliance professional. No one should be punished for doing the right thing.” 

Tigran’s career — from leading complex investigations at the IRS to building global compliance programs in the private sector — has left a lasting impact on the digital asset industry. As this space continues to evolve, The Digital Chamber remains committed to honoring those who lead with integrity and ensuring that no one who stands up for what’s right ever stands alone. 

For media inquiries or interviews, please contact digitalchamber@transformgroup.com. 

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About The Digital Chamber 
The Digital Chamber is the world’s leading trade association representing blockchain and digital asset innovators. Founded in 2014, the organization has shaped national policy, defended the industry during its most challenging periods, and secured bipartisan support for blockchain innovation. Today, The Digital Chamber is building the future of the digital economy through education, advocacy, and strategic engagement in Washington and around the world. 

Website: www.digitalchamber.org 

Washington, D.C. – The Digital Chamber (TDC), the Nation’s voice for the blockchain industry, today released the U.S. Blockchain Roadmap: a bold policy framework to ensure the United States remains the global leader in economic competitiveness, national security, and digital innovation. 

Blockchain is more than a financial innovation—it is foundational infrastructure for the digital age. From modernizing financial systems and securing energy independence to strengthening cybersecurity and supply chains, blockchain technology will underpin the next era of American power and prosperity. 

This roadmap provides a strategic blueprint for Congress and the White House to lead in blockchain development and harness its full potential to advance core national priorities. 

The release of the roadmap follows last week’s leadership transition announcement, in which Founder Perianne Boring was named Chair of the Board of Directors and President Cody Carbone was announced as incoming CEO, effective in April. The paper builds on that transition by outlining the organization’s long-term vision for national blockchain leadership and a bold policy agenda for the future. 

“This roadmap is a call to action,” said Cody Carbone, President and incoming CEO. “It lays out a clear plan for how policymakers can embrace blockchain to solve the U.S.’ most pressing issues. TDC is equipped right now to lead the charge in Washington to enact these changes.” 

The U.S. Blockchain Roadmap includes policy recommendations across six pillars: 

• Strengthening financial stability through digital assets 
• Protecting financial freedom and decentralization 
• Leading global capital markets with regulatory clarity 
• Advancing energy security through Bitcoin mining 
• Modernizing the U.S. banking system 
• Exploring blockchain applications for government innovation and national security 

The roadmap also calls for the enactment of the BITCOIN Act, passage of stablecoin legislation, the development of a self-regulatory organization for digital assets, a reform of the Federal Reserve’s master account process, an overhaul of the Bank Secrecy Act to protect American privacy, and a number of other policy recommendations. The framework also proposes the creation of an R&D fund to explore how blockchain can enhance government operations, improve fiscal oversight, and strengthen national security.  

“For the first time, we have the political will and alignment necessary to lead in the digital asset era,” said Perianne Boring, Founder and CEO of The Digital Chamber, and incoming Chair of the Board. “This roadmap provides the strategic direction to turn momentum into action and ensure the United States leads the world in blockchain innovation.” 

The release of the roadmap comes ahead of the DC Blockchain Summit, where Boring and Carbone will outline The Digital Chamber’s vision during a fireside chat titled “Beyond Defense: The Digital Chamber’s Vision for the Next Decade.”

The U.S. Blockchain Roadmap is already earning broad support across the industry. Leading voices from The Digital Chamber’s membership and the broader blockchain ecosystem shared their endorsements of this vision:

“This roadmap is exactly what the United States needs to secure its place as the dominant nation for digital asset innovation and to become the Bitcoin Superpower of the World. The Digital Chamber is leading the way to achieve meaningful reforms in Washington, D.C. that will allow us to win the ‘space race’ for the future of finance.” – Jason Les, CEO, Riot Platforms, Inc.

The U.S. Blockchain Roadmap isn’t just a policy document—it’s a turning point. For the first time, there’s real momentum in Washington to back builders instead of blocking them. At Cryptex, we’ve spent years proving that decentralized finance can be secure, scalable, and meaningful. This roadmap gives innovators the oxygen we need to lead—not just in crypto, but in the future of global finance itself.” – Joseph Sticco, Co-Founder, Cryptex Finance

“It’s a pivotal moment for our industry as the U.S. charts a clear course for blockchain and digital asset policy. We welcome this roadmap as a strong step toward greater regulatory clarity – benefiting innovators, investors, and users globally.” – Dominik Schiener, Chairman of the Board of Directors, IOTA Foundation

“The Blockchain industry has transitioned from an esoteric consideration to impacting mission critical infrastructure. This roadmap couldn’t be coming at a better time and from a better institution and Constellation fully supports The Digital Chamber in this effort.” – Ben Jorgensen, CEO, Constellation Network 

“Zero Hash fundamentally believes that digital assets are a technology, not an asset class. As such, we’re aligned with the Chamber’s US Blockchain Roadmap, which, at its core, represents this truth. The U.S. needs to modernize its financial services laws and clarify the regulatory lines associated with the deployment of digital asset technology to further solidify the United States as the crypto capital of the world and to further ready our economy for the next digital revolution.” – Edward Woodford, Founder and CEO, Zero Hash 

“Bitcoin mining is a critical pillar of U.S. energy security and technological leadership. This roadmap lays out a strong vision to ensure clear, consistent regulations, promote energy abundance, and safeguard American dominance in this strategic sector. Strengthening domestic mining capacity not only secures our financial sovereignty but also fortifies national security by reducing reliance on foreign-controlled digital infrastructure. This is the bold action we need to maintain our leadership in the global digital economy.” – Fred Thiel, CEO and Chairman, MARA

“I’m excited to be part of the momentum around finally getting positive motion on regulatory clarity for crypto.” – Katherine Dowling, General Counsel and Chief Compliance Officer, Bitwise Asset Management, Inc.

“As we enter the golden age of financial innovation, it’s imperative that blockchain remains at the forefront of American strategic policy. Blockchains will improve transparency, privacy rights, and innovation in all of our digital systems, and this roadmap is an excellent start in turning that vision into a reality.” – Tarek Mansour, CEO, Kalshi

“CleanSpark is proud to stand alongside The Digital Chamber in advocating for the industry and supporting the U.S. Blockchain Roadmap as a vital guide for advancing a new digital economy. As America’s Bitcoin Miner®, CleanSpark views Bitcoin as both a global asset and a local business — one that drives financial stability while staying decentralized, enhances power grid resilience across the nation, and promotes economic growth in rural communities. The future is happening now.” – Zachary Bradford, CEO and President, CleanSpark 

“The Digital Chamber’s Blockchain Roadmap 2025 offers important guidance on how the United States can lead by example, protecting the financial freedoms of all who decide to participate within the decentralized financial revolution, enabling the potential for modern economic prosperity, however doing so with clear regulatory guidance where recently there was none. On this brave new road towards President Trump’s envisioned ‘Golden Age’, we at Unicoin, a US publicly reporting cryptocurrency company, will proudly play our part in helping to ensure that America becomes the Crypto Capital of the planet.”  – Alex Konanykhin, CEO, Unicoin 

“Now is a pivotal moment for U.S. leadership in blockchain, digital innovation, and national security. This roadmap provides the necessary clarity and direction to help us lead rather than compete. Effective leadership demands vision, policy, and GRIT. The Digital Chamber’s efforts are crucial in this endeavor. We must prioritize blockchain to secure America’s role at the forefront of technological advancement.” – Mariela Dilev, CEO, GRIT Staffing & HR Solutions

“When you look at how breakthroughs really happen—whether it’s the printing press or the internet—they don’t come from working in silos. They come from unexpected collisions: between industries, between ideas, between people with radically different missions. At NDF, we’ve created a platform that does exactly that—aligned with the U.S. Blockchain Roadmap, but designed to provoke innovation through collaboration. By sharing talent and pooling R&D efforts, we’re not just reducing costs—we’re increasing the odds of serendipity, of that one idea that changes everything.” – Eric Adolphe, CEO, Forward Edge-AI, Inc. / National DigiFoundry (NDF)

For media inquiries or interviews, please contact digitalchamber@transformgroup.com. 

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About The Digital Chamber 
The Digital Chamber is the world’s leading trade association representing blockchain and digital asset innovators. Founded in 2014, the organization has shaped national policy, defended the industry during its most challenging periods, and secured bipartisan support for blockchain innovation. Today, The Digital Chamber is building the future of the digital economy through education, advocacy, and strategic engagement in Washington and around the world. 

Website: www.digitalchamber.org