Blockchain Advocacy Group Calls on Congress to Get it Together 

The Chamber of Digital Commerce draws on Cold War-era strategies to get crypto legislation to the president’s desk 


Lucky-photographer/Shutterstock modified by Blockworks


The Chamber of Digital Commerce has issued a Congressional call to action to prioritize moving a legal framework for crypto forward. 

The advocacy group is requesting Congress to establish a “Digital Asset and Blockchain Technology Solarium Commission” to create a comprehensive policy package. The Commission proposal draws on President Dwight D. Eisenhower-era policy when “Project Solarium” was launched to address national security concerns during the Cold War. 

More recently, Congress mandated the bipartisan “Cyberspace Solarium Commission” in 2019 to improve cyber defense strategies. 

“Our allies’ and adversaries’ advances in blockchain and digital assets threaten U.S. leadership and dominance across next-generation finance, trade, business, and other verticals while the U.S. sits idle–effectively pushing the industry overseas,” the Chamber wrote in a statement Thursday.  

A consensus among a number of bipartisan lawmakers has emerged: crypto-oriented businesses are leaving the US, but political parties have different thoughts as to why

Rep. Stephen Lynch, D-Mass., said crypto companies, particularly stablecoin issuers, are trying to go to the area of least regulation. 

“A race to the bottom is the custom of this industry,” Lynch said Thursday morning during the House Financial Service Committee Digital Asset Subcommittee on Digital Asset stablecoin hearing

Their goal is to “escape regulation,” he said. 

Other lawmakers, namely Warren Davidson, R-Ohio, have countered, challenging that crypto companies are really going offshore in the pursuit of more regulatory clarity, lacking precision in terms of US industry oversight. 

In its call to action, the Chamber of Digital Commerce highlighted work other countries are doing to advance crypto policy. South Korea has invested close to $45 billion to advance its “Digital New Deal” while Japan is miles ahead of the US on stablecoin legislation, the Chamber said. 

“A Commission will render collaboration and leadership from government, industry, and academia for the future of the industry’s development,” the Chamber added. “We believe an effort of this magnitude is imperative in today’s divided Congress and we call all members of the 118th Congress to support it.”

The Chamber of Digital Commerce has already drafted legislation, to be released soon, and has sponsors “lined up,” Cody Carbone, vice president of policy at the Chamber, told Blockworks. 

The Commission is “a unique approach to counter the stalled/political efforts we see right now,” Carbone added. 

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png


Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.



Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space


Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?


Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month


It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet


Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend


Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million