Next month, Cody Carbone will ascend to the role of chief executive officer at the Digital Chamber, taking over from its founder, Perianne Boring, who is stepping down after leading the organization’s efforts for a decade.
As the group gears up for its upcoming blockchain summit in Washington, D.C., members were informed that Boring will transition to the position of board chair, while Carbone, a seasoned figure in crypto policy, will step into the CEO role. This change comes at a pivotal time, coinciding with the U.S. government’s shift from hesitation regarding digital assets to a more welcoming stance under President Donald Trump and a responsive Congress.
“We are no longer in a defensive mode, facing a government that seeks to limit the industry,” Boring stated in a recent interview.
Digital assets are currently experiencing a surge of support from the U.S. government, highlighted by a presidential summit at the White House this month and notable progress within both the Senate and House of Representatives on crypto legislation. Central to this are two key bills focused on regulating stablecoins and establishing frameworks for the crypto industry, crucial steps toward integrating crypto as a recognized element of the U.S. financial ecosystem.
As the former chief policy officer of the Digital Chamber, Carbone is now poised to influence the ongoing legislation concerning stablecoins and overall market structure within Congress.
“We haven’t made significant progress yet,” Carbone remarked this week. Throughout his predecessor’s lobbying efforts, the industry has been consistently combating misconceptions and unfavorable narratives while resisting government pushback. Despite recent political victories and “sky-high” expectations from crypto proponents, along with broad support from the government, the organization must concentrate its efforts on meeting those expectations and achieving desired policy outcomes.
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A potential first legislative win during Carbone’s tenure could be the cessation of an IRS rule that previously categorized decentralized financial (DeFi) projects as brokerages responsible for monitoring user taxation. Legislators are leveraging the Congressional Review Act to overturn this Biden administration rule, and with robust Democratic backing, the resolution has cleared both chambers and is awaiting a procedural second vote in the Senate before reaching the president’s desk for endorsement.
If successful, this would represent the first pro-crypto initiative to be formally signed by a U.S. president, although Carbone’s primary focus remains on broader legislation, which he anticipates will be accomplished this year.
“Cody excels in executing these initiatives,” Boring emphasized. “Thus, our immediate priority is to bring to fruition all the efforts we’ve devoted over the past year and decade.”
The digital asset realm is populated with various lobbying entities actively engaging with government bodies. Among them, the Digital Chamber stands out as one of the most influential groups and boasts the highest membership, even though it has seen its budget eclipsed by the Blockchain Association in recent years.
Other notable advocacy and educational organizations in this space include the Crypto Council for Innovation, Coin Center, the DeFi Education Fund, and the newly launched National Cryptocurrency Association, which has been endowed with a sizeable $50 million grant from Ripple Labs.
Boring indicated that she does not have any immediate plans for a new role outside the organization.
“My next steps will involve exploring other passions I have in the crypto field,” she commented.