Blockchain arms race risks being won by ‘adversarial nations’ — US crypto lobby group

On a similar note, the organization mentioned the possible BRICS digital currency and other developments regarding gold-backed digital currencies by Russia and Iran.The brief concluded that regulative and legal opacity in the U.S. is “hindering the countrys ability to take and lead benefit of this development transformation,” including:” This abdication is seriously hindering domestic advancement and delivering benefits to other countries at the cost of the U.S. innovator and financier.” The name of the proposed commission referrals Project Solarium which was produced in the wake of World War II and the dawning of the Cold War by President Eisenhower to counter the threat of Soviet expansion. The Cyberspace Solarium Commission, developed in 2019, was produced to develop a tactical method to safeguard against cyber attacks. The crypto advocacy group wants a similar method on digital possessions and blockchain technology which “frantically needs agreement in the wake of other countries advances.” Related: United States Chamber of Commerce slams SECs haphazard guideline effortsThe Chamber of Digital Commerce is an American advocacy group founded in 2014 that promotes emerging innovations in the blockchain sector.On May 19, the group backed Senator Tom Emmer for introducing the Securities Clarity Act which aims to provide much-needed regulatory clearness for the crypto asset and blockchain market in the U.S.The @DigitalChamber applauds @GOPMajorityWhip for introducing The Securities Clarity Act with @RepDarrenSoto. Clear meanings of #digitalassets will offer much-needed certainty for financiers, customers, and services while succeeding innovation in the U.S. pic.twitter.com/LuLqutVMr1— Chamber of Digital Commerce (@DigitalChamber) May 18, 2023

Meanwhile, the Securities and Exchange Commission stays determined that the existing guidelines that were formed decades ago still apply to this new form of digital financing and its hidden technology.Magazine: $3.4 B of Bitcoin in a popcorn tin– The Silk Road hackers story

A blockchain lobbying group backed by the likes of Goldman Sachs, Citi Group, Circle, and Fidelity has actually prompted the United States Congress to pass a legal framework for digital assets or run the risk of falling behind other nations.On May 19, the U.S. Chamber of Digital Commerce sent a call to action to Congress and the Senate to focus on passing a nationwide method to crypto regulation.The organization included that it requests that Congress organize a “Digital Asset and Blockchain Technology Solarium Commission” to develop a “national strategic approach to digital assets and blockchain innovation” in the U.S.There was a stark warning that failure to act would allow “adversarial countries” to further their activities in the area that “threaten U.S. management and dollar primacy. These consist of Saudi Arabia, Russia, France, Brazil, and India, it wrote.Today, the @DigitalChamber issued a call to action advising Congress to organize a Digital Asset and Blockchain Technology Solarium Commission to develop a national tactical technique to these technologies in the U.S.Lets guarantee U.S. management in the #blockchain market.