The Chamber of Digital Commerce has been playing an important role in terms of Bitcoin regulation over the past year. In fact, the Chamber of Digital Commerce is the only trade association exclusively representing the world of Bitcoin and digital currency. And a few days ago, they celebrated their first anniversary. Let’s recap what has been realised so far.
Celebrating One Year of Chamber of Digital Commerce
If there is one thing the Bitcoin industry desperately needed, it was a group of experts who truly took Bitcoin’s best interest to heart and went out to represent it in a proper fashion. Originally, this was the task of the Bitcoin Foundation, but that organization failed to live up to its expectations. On top of that, the Bitcoin Foundation misspent a huge amount of funds and went nearly bankrupt earlier this year.
The time was right for a new group of people to take center stage and represent Bitcoin in a positive manner. The Chamber of Digital Commerce was formed and their mission was both bold and simple at the same time: open a dialogue with policymakers and promote the benefits of Bitcoin and the blockchain to global finance leaders.
And it has to be said, the Chamber of Digital Commerce has accomplished some great feats in its first year of existence. Bitcoin Education Day saw a few dozen Bitcoin industry experts brief Congressional legislative leaders and the entire U.S. House of Representatives on Bitcoin and blockchain technology.
The Chamber of Digital Commerce has also opened dialogues with ten federal agencies and departments, which opens the door for future regulatory talks concerning digital assets. And last but not least, policy proposals in rulemaking sessions, such as New York’s BitLicense, have been submitted.
“I am honored and inspired by the incredible support we have received from the blockchain technology community. We have accomplished an impressive track record during our first year of operations; however our work has just begun, as the industry is under intense government scrutiny. It is paramount that we engage to ensure that the legal and regulatory framework provides maximum freedom for this industry to innovate and realize its full potential – and the Chamber has dedicated itself towards that mission.” – Perianne Boring, Founder and President of Chamber of Digital Commerce told the media in a statement.
Growing Number of Members
Initiatives such as the Chamber of Digital Commerce are only as strong as the members supporting the idea and principles. Despite being only in existence for one year, several prominent members of the digital currency community have become a member to support the Chamber’s efforts.
Names such as Meckler Media, BitGo, ChangeTip, Digital Currency Council and BitNet are all members of the Chamber of Digital Commerce’s efforts. If things keep up like they do right now, it won’t take long until there are over 50 different members listed. And don’t forget that individual members can sign up too, even though the US$1,000 fee might be a bit steep for most people.
Source: Press Release via Email
Images courtesy of Chamber of Digital Commerce, Shutterstock