Kevin Oleary, Chairman of Oleary Ventures, is set to engage with a special Treasury advisor who will discuss the cryptocurrency landscape during the Trump presidency and address concerns regarding the IRS.
An advocacy group leading the charge in the digital asset sector published a report on Tuesday detailing policy objectives to bolster the blockchain industry.
The Digital Chamber’s “US Blockchain Roadmap” outlines six key principles focusing on how digital assets can position the US as a leader in blockchain technology.
“This not only positions the US as a pioneer in blockchain technology but also acknowledges that blockchain is a sophisticated technology with prospective benefits,” stated Perianne Boring, founder and chairman of the Digital Chamber, during a Fox Business interview. “When implemented correctly, this technology can yield substantial advantages for the US economy and financial system.”
The roadmap includes a push for the implementation of the Bitcoin Act, which aims to create a US strategic Bitcoin Reserve supporting the federal balance sheet, encourages the use of stubcoin pegged to the US dollar, and establishes Bitcoin-backed Treasury securities.
Trump promises to transform us into “an undeniable Bitcoin superpower and the capital of the globe.”
Perianne Boring, the founder of the Digital Chamber, discussed the overview featured on Fox Business and the group’s blockchain initiatives. (Courtesy of Digital Chamber/Fox News)
Bored and Digital Chambers urged for a distinction between Bitcoin Reserve and other cryptocurrencies associated with Donald Trump, arguing that crypto assets, including protected zones alongside Bitcoin, fulfill distinct roles.
“It’s crucial to understand that these other cryptocurrencies differ greatly from Bitcoin. It isn’t digital gold,” Boring explained. “The majority function as smart contract networks and open-source platforms for developing decentralized applications, giving them very different applications compared to Digital Gold.”
“We are requesting a separation of these areas. Have Bitcoin in a dedicated fund for its unique purposes related to research and development, as access to these cryptocurrencies is essential for innovation and infrastructure development.”
New Leader of the Top Pro-crypto Group to Promote US Policy
Perianne Boring stressed the necessity of maintaining open-source blockchain platforms free from censorship, deeming it a crucial policy objective for the sector. (Courtesy of Digital Chamber/Fox News)
The Digital Chamber highlighted that the Research and Development Fund could leverage these digital frameworks to oversee federal expenditure in real-time and optimize additional governmental procedures.
“I firmly believe that government expenditures should be recorded on a blockchain as an immutable, 100% verifiable, publicly auditable ledger, enabling us to track spending more effectively and utilize it to avert future fraud and misconduct,” Boring asserted.
“We advocate for a research and development fund to investigate the advantages of blockchain infrastructure for various government initiatives. I see Doge as an excellent case, but surely there are numerous others.”
Congress is anticipated to address the creation of market structures aimed at clarifying regulatory frameworks for digital assets soon, with the digital chamber’s roadmap underscoring three pivotal areas to establish clarity within the sector.
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The digital chamber advocated for separating Bitcoin and other cryptocurrencies due to their unique characteristics. (Getty Images/Valerie Press via Getty Images/Bloomberg)
These include creating distinct jurisdictional lines between the Securities and Exchange Commission and the Commodity Futures Trading Commission concerning digital assets. Foster a self-regulatory body for digital assets to work alongside federal regulators. Set guidelines for tokenized assets in capital markets, real estate, and corporate finance to stimulate investment and recruitment.
Since the release of the Digital Chamber’s previous Blockchain Action Plan in 2019, Boring noted that the significance of maintaining open-source blockchain networks and preventing censorship to advance financial freedom and decentralization has gained prominence.
“It’s crucial to develop a blockchain infrastructure that safeguards the integrity of the blockchain network,” she clarified. “These networks are open source and distributed software platforms. Imposing restrictions on their open-source nature can threaten their integrity and security while also infringing upon Americans’ constitutional rights.”
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“There have been efforts to censor blockchain networks or to impose various regulatory and compliance requirements on the technology itself.
Further recommendations from the digital chamber include safeguarding and fostering Bitcoin mining in the US. This also involves modernizing the banking system to facilitate the inclusion of digital assets, with the assertion that it will enhance the resilience of the electrical grid.
