Digital Chamber Gets New Chief as U.S. Crypto Lobbyists Embrace Friendlier Washington
Cody Carbone will be stepping into the role of chief executive officer at the Digital Chamber next month, succeeding the founder, Perianne Boring. Boring has led the oldest U.S. crypto advocacy group for a decade and is transitioning to chair the organization’s board. This leadership change comes as the Digital Chamber gears up for its upcoming blockchain summit in Washington, D.C.
Cody Carbone, previously the chief policy officer, is set to steer the organization as the U.S. government shifts from skepticism to support for digital assets. As Boring pointed out in a recent CoinDesk interview, “We’re no longer in a defensive stance, where we have a government that’s essentially trying to shut down the industry.”
Recent developments showcase a pronounced momentum in favor of cryptocurrency legislation. A presidential summit held at the White House earlier this month and the advancement of crypto-related matters in both the Senate and House signal an evolving political landscape. Key legislative efforts now focus on the regulation of stablecoins and the establishment of broader guardrails for the crypto industry, ultimately aiming to integrate digital assets into the regulated financial ecosystem of the United States.
Carbone’s initial focus will be on the stablecoin regulations and the legislative framework that is currently under discussion in Congress. He acknowledged the challenges ahead, stating, “We haven’t gotten anywhere, yet,” reflecting on the long journey of advocacy that has involved dispelling misconceptions and combating negative narratives surrounding the crypto sector. Despite a favorable political climate, he emphasized the importance of aligning the organization’s efforts with the ambitious expectations from the crypto community.
Furthermore, one of Carbone’s potential victories in the near term could be the reversal of an IRS rule, which sought to classify decentralized financial (DeFi) projects as brokerages. Lawmakers aim to overturn this rule using the Congressional Review Act, and with broad support, the resolution has made significant progress, pending a final procedural approval from the Senate.
As Boring expressed, the immediate priority for Carbone will be executing the goals established over the past years. “Cody really shines on that execution,” she remarked, indicating confidence in his ability to navigate the complexities of the legislative landscape.
The Digital Chamber is among several lobbying groups actively pushing for favorable policies in the crowded sphere of crypto advocacy. Although the organization boasts a substantial membership, it faces competition from other influential groups like the Blockchain Association, which has surpassed it in budgetary resources in recent years. Additional advocacy efforts come from organizations such as the Crypto Council for Innovation, the DeFi Education Fund, and the newly established National Cryptocurrency Association, backed by Ripple Labs and a significant $50 million grant.
As Boring prepares for her next chapter in the crypto sphere, she noted that she is still considering where her passions will lead her, emphasizing her ongoing commitment to the evolving landscape of digital assets.
