The Financial Accounting Standards Board (FASB) is exploring an accounting standard for digital currency in response to increasing concerns about inconsistent accounting standards. FASB, which sets standards for U.S. Generally Accepted Accounting Principles (GAAP) adopted by the U.S. Securities and Exchange Commission, will consider adding this project to its agenda at a public meeting, the time...
Smart contracts can automate many different kinds of processes and operations, the most obvious being payment and actions conditional on payment. But the capabilities extend to many business and organizational activities. A white paper [PDF] by the Chamber of Digital Commerce with the support of the Smart Contracts Alliance presents 12 use cases of contracts for business and beyond. Nick Szabo in...
Services giant Cognizant, a company known for its consulting and business process outsourcing services as well as being an information technology provider has joined the Executive Committee of the Chamber of Digital Commerce (CDC). The Chamber of Digital Commerce, a Washington D.C.-based advocacy group and trade association that promotes digital currencies and blockchain technology while working...
The Chamber of Digital Commerce, a Washington-based proponent and trade association of digital currency and blockchain technology firms has launched a new consortium called the Smart Contract Alliance. The Chamber of Digital Commerce (CDC), a Washington-based advocacy group and trade association that promotes digital currencies and blockchain technology has unveiled a new consortium called the...
North Carolina Gov. Pat McCrory has signed a law that defines “virtual currency” and clarifies what activity triggers licensure. The Chamber of Digital Commerce views the measure as a historical moment for state regulation of virtual currencies and blockchain technology. The ratification of the bill, also known as the North Carolina Money Transmitter Act, follows 16 months of deliberations...
The Chamber of Digital Commerce (CDC) has appointed Mark Wetjen, head of global public policy at the Depository Trust & Clearing Corporation (DTCC), to its board of advisors. The DTCC, the world’s top post-trade market infrastructure for international financial services, has joined the chamber’s executive committee. The DTCC processed nearly $1.5 quadrillion in securities transactions in 2015...
Virtual currency advocates provided input to a North Carolina legislative committee Tuesday on a proposed rule to improve regulation of digital currency and blockchain related businesses. The Chamber of Digital Commerce, a trade association that promotes digital assets and blockchain technology, joined representatives of IBM and the Perkins Coie law firm in meeting with the North Carolina Senate...
Technology powerhouse Microsoft and military-centric banking and financial services firm USAA are the two newest members to join the Chamber of Digital Commerce (CDC), a Washington-based blockchain policy advocacy group. Microsoft and USAA are joining the Chamber of Digital Commerce, a non-profit lobbying group based in Washington, DC working to help build the regulatory framework and policies...
The Chamber of Digital Commerce (CDC) has launched the Global Blockchain Forum (GBF), a partnering of the leading trade associations for the blockchain and digital asset industries. The goal is to create industry best practices and international regulatory interoperability. Founding members include CDC, the United Kingdom Digital Currency Association, the Association of Crypto-Currency...
The Chamber of Digital Commerce (CDC), based in Washington, D.C., has urged the Group of Seven (G7) nations not to enact virtual currency regulations that will stifle innovation in seeking to prevent future terror attacks like the one in Paris last week. The CDC is concerned that the G7 countries want to restrict virtual currencies because they suspect Islamic State terrorists used and continue...
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...
The US Treasury Department has announced plans to reassess regulations on financial and banking access for Money Services Businesses (MSB) by inviting members of the MSB industry to bring up concerns to a roundtable discussion scheduled for next week. In anticipation for the meeting, the Chamber of Digital Commerce (CDC), an advocacy organization on Capitol Hill for digital currencies, has...
Overstock CEO Patrick Byrne announced that Overstock will donate 4% of their Bitcoin revenue to organizations promoting Bitcoin adoption. At this point in time, Overstock has selected the Chamber of Digital Commerce as the first organization that will be donated to. "The cryptocurrency movement is at a critical stage in its evolution. Adoption among the technorati is fairly pervasive, but it...
Societies innovate and create almost naturally on a daily basis. As people, we’re always trying to find ways to make our lifestyle better and, in most cases, overcome any sort of obstacles in our path. Unfortunately, with innovation comes a “wild-west” period where many people are taken advantage of and stolen from because they cannot combat the malicious technology developed by those with the...
Perianne Boring, President of the newly formed Chamber of Digital Commerce, held a presentation at the Bitcoin Center of New York City on Thursday, July 31st. In her presentation, Ms. Boring went through a number of points describing the functions and actions that the Chamber is anticipated to take on. Perianne had these words: "We're looking to build a full government affairs suite of services...
Last weekend, Perianne Boring spoke at the North American Bitcoin Conference in Chicago with the announcement of the Chamber of Digital Commerce, Bitcoin's first office for political affairs. On Thursday, July 31st, she will be in NYC at the Bitcoin Center to talk about the political stage that is set for Bitcoin in the coming months. [divider]CCN[/divider] This will be a landmark event...
The Chamber of Digital Commerce, located in Washington D.C., has been one of the major organizations spear-heading the BitLicense opposition. Chamber of Digital Commerce Founding President Perianne Boring has been vocally active against Ben Lawsky’s proposed BitLicense regulation recently at the North American Bitcoin Conference in Chicago. The Chamber of Digital Commerce then held a press...