Perianne Boring, President of the Chamber of Digital Commerce: The Current State of Crypto Regulation

— Perianne Boring's background in public policy, work on Capitol Hill and the White House during the financial crisis, and her discovery of Bitcoin as a solution to systemic monetary problems.

— The Chamber of Digital Commerce's founding in 2014 as a nonprofit trade association with over 200 member companies representing both traditional finance (JP Morgan, Wells Fargo, Microsoft, IBM) and crypto-native firms.

— The complex regulatory landscape across the SEC, CFTC, FinCEN, and Treasury, each with different jurisdictional approaches that create confusion and compliance costs for companies.

— Anti-money laundering and KYC requirements, including the travel rule, which mandate identity disclosure on both sides of transactions but conflict with blockchain's pseudonymous design and raise privacy concerns.

— Token classification uncertainty and the lack of binding SEC guidance on the Howey test, which prevents legitimate companies from building regulated products and allows regulators to pick winners and losers.

— Central bank digital currency development globally, particularly China's 84+ patent filings for its CBDC, and the need for a coordinated U.S. national action plan on blockchain technology.

— The travel rule and proposed regulations treating stablecoins as securities present immediate compliance and business model risks; companies should engage with the Chamber and similar organizations to shape regulatory language before it becomes binding law.

— U.S. policymakers need to understand that regulatory arbitrage and excessive compliance costs are already driving innovation and talent to other jurisdictions; proactive, coordinated policy at the federal level is essential for maintaining American competitiveness in blockchain.

— Privacy and monetary innovation are legitimate concerns that deserve explicit discussion in policy circles; current AML and KYC frameworks may be solving the wrong problem when blockchain itself provides unprecedented transaction transparency for law enforcement.