In a recent prediction, Bitcoin venture capitalist Marc Andreessen said that the year 2015 would see greater adoption of cryptocurrency around the world. He saw that happening in response to consumer education and innovation. One of the issues that will also come into sharp focus this year is regulation. Today Friday March 20th, 1:00PM to 2:00PM (Eastern Time), the Chamber of Digital Commerce is organizing a webinar that will bring together players in the cryptocurrency community and other interested groups together to discuss the future of cryptocurrency regulation.
New York and California's Bitcoin Rules
The webinar comes in the wake of proposed rules coming from California, New York and the Consumer Financial Protection Bureau or CFPB. In late February 2015, the State Assembly of California through Assembly Member Dababneh introduced AB 1326 which proposes rules on regulating virtual currency. The state of New York's Department of Financial Services or DFS has also proposed rules as well as the Consumer Financial Protection Bureau whose comment window expires on March 23rd, 2015.
For two of the regulators mentioned, New York’s DFS and the CFPB, the webinar will be held within the window period allowed for comments to proposed rules from members of the public and interest groups.
CCN interviewed Perianne Boring, president of the Chamber of Digital Commerce on the issue of cryptocurrency regulation, and this is what she had to say:
“We’re putting together this webinar to provide a platform for the industry to come together and assess how these proposals may impact our industry. The Chamber will submit comments to both the CFPB and DFS, which will be made available to the public. During the webinar, our speakers will also provide educational resources on the comment process to encourage others to submit their comments.”
We asked Ms Boring on what the Chamber saw as the ideal regulatory environment for cryptocurrency regulation, and she responded,
“During our webinar on Friday we’re discussing the NY DFS proposed BitLicense regulations, CFPB’s prepaid ruling and California’s AB-1326. Our position on these issues will be discussed during the webinar and determined by our membership. The ideal regulatory environment would strike an appropriate balance between meeting regulator’s concerns without stifling innovation.”
One of the speakers at the webinar will be Richard Costigan, who was appointed by Governor Arnold Schwarzenegger to the California State Personnel Board (SPB), joining the webinar who will speak about the legislative process in California.
Attendance for the webinar has been growing since the first one held in November 2014. The last webinar held by the Chamber saw close to 100 in attendance. The event can be followed on Twitter via the @digitalchamber handle. To register for the webinar visit this link.