Chamber of Digital Commerce

The Digital Chamber
FounderPerianne Boring
FocusBusiness advocacy
MethodPolitical lobbying, Advocacy, Public relations
Websitedigitalchamber.org

The Digital Chamber, formally The Chamber of Digital Commerce, is an American advocacy group that promotes the emerging industry behind blockchain technology, bitcoin, digital currency and digital assets.[1][2][3][4]

History

Headquartered in Washington, D.C., the organization was founded in July 2014 by Perianne Boring. In October 2014, the chamber received 501(c)(6) non-profit status from the Internal Revenue Service.[5] In 2015, economist and former JPMorgan Chase executive Blythe Masters was appointed to the advisory board.[6]

In December 2019, former chairman of the Commodity Futures Trading Commission Christopher Giancarlo was appointed to the advisory board of the chamber.[7]

The chamber is also interested in patent applications, particularly those filed by China concerning the digital industry.[8]

In 2024, the chamber advocated for the passage of "a clear regulatory framework" on stablecoins to keep the U.S. dollar strong in the digital economy. In a 2024 report, it noted how USD-linked stablecoins are becoming popular for payments and remittances, especially in unstable markets. The chamber has pushed for allowing both banks and non-banks to issue stablecoins, setting strict rules for reserves, and making systems compatible.[9]

PAC (political action committee)

In August 2014, political news site The Hill reported that the Chamber had registered a political action committee with the United States Federal Election Commission. As The Hill piece noted, “formation of the PAC is a sign of increasing maturity for Bitcoin and a signal that politicians could face political pressure to support virtual currencies.”[10][11][12][13] To date, however, the PAC has only raised $10,000 of which only $2,700 has been contributed to a candidate.[14][15]

References

  1. ^ Anthony Cuthbertson (July 21, 2014). "Bitcoin Breakthrough as Chamber of Digital Commerce Opens in US". International Business Times UK.
  2. ^ Megan R. Wilson (November 24, 2014). "Mellon joins bitcoin advocacy group". The Hill.
  3. ^ Ian Allison (July 3, 2015). "Bitcoin regulation: Chamber of Digital Commerce talks about enlisting former JP Morgan chief Blythe Masters". International Business Times UK.
  4. ^ "Blockchain Technology Gets a Hearing Inside the Fed's Headquarters".
  5. ^ staff (October 16, 2014). "Chamber of Digital Commerce Receives IRS Recognition". Politics & Government Week. Archived from the original on April 9, 2016.
  6. ^ "Board of Advisors". Chamber of Digital Commerce.
  7. ^ staff (October 16, 2014). "Chamber of Digital Commerce Receives IRS Recognition". Politics & Government Week. Archived from the original on December 2, 2019. Retrieved December 2, 2019.
  8. ^ Perianne Boring; Marc Kaufman (n.d.). "Blockchain: The Breakthrough Technology of the Decade and How China Is Leading the Way – An Industry White Paper" (PDF). Chamber of Digital Commerce. Retrieved 2 September 2022.
  9. ^ "The Digital Chamber report: U.S. should use stablecoins to promote USD dominance in digital economy". Monetary Brief. Retrieved 2024-11-18.
  10. ^ Julian Hattem (August 25, 2014). "Bitcoin lobby launches spending PAC". The Hill.
  11. ^ Julian Hattem (August 29, 2014). "Bitcoin group descends on Congress". The Hill.
  12. ^ Brenan Salgado (September 5, 2014). "Bitcoin Education Day on Capitol Hill". Vanderbilt Journal of Entertainment & Technology Law. Vanderbilt Law School.
  13. ^ Tess VandenDolder (August 24, 2014). "Politics News: The Bitcoin Lobby Has Launched Their Own PAC". DC Inno. Streetwise Media. Archived from the original on September 11, 2016. Retrieved August 13, 2016.
  14. ^ "FEC Disclosure Report Search Results". docquery.fec.gov. Retrieved 2017-01-25.
  15. ^ "FEC Disclosure Report Search Results". docquery.fec.gov. Retrieved 2017-01-25.