The Scoop's host, Frank Chaparro, was joined by The Digital Chamber President Cody Carbone.
In this episode, Chaparro and Carbone discussed the current U.S. policy landscape for the crypto industry under the new Trump administration. With growing bipartisan support and regulatory clarity, the conversation highlights how crypto is becoming a mainstream political issue with significant economic and electoral implications.
OUTLINE
00:00 Intro
01:12 Sponsor break
03:05 The tone has shifted
05:37 IRS DeFi rule nullified
09:25 Stablecoin legislation
12:35 Fine-tuning crypto policy
15:31 Crypto’s growing political influence
18:01 How Trump changed the crypto debate
24:14 The next six months
28:56 Conclusion
GUEST LINKS
Cody Carbone - https://www.linkedin.com/in/codycarbone/
Cody Carbone on X - https://x.com/CodyCarboneDC
The Digital Chamber - https://digitalchamber.org/
The Digital Chamber on X - https://x.com/DigitalChamber
This episode is brought to your by our sponsors:
Fidelity
Explore Fidelity crypto careers today. Go to crypto.FidelityCareers.com to learn more.
Uranium.io
Investing in uranium is now widely accessible. Visit uranium.io to learn more.
With the nomination of the pro-crypto Paul Atkins to be the next SEC chair, the crypto industry is potentially facing a 180 from the agency. As co-chair of The Digital Chamber’s Token Alliance initiative and a board member of Securitize, Atkins is not only pro-crypto, but also against the type of “regulation by enforcement” strategy of current Chair Gary Gensler.
In this episode, Cody Carbone, president at The Digital Chamber, explains why Atkins is likely to start reassessment of the agency’s lawsuits against crypto firms, why Trump might break with protocol to fill one of the commissioner seats that would typically be filled by a Democrat, and who he thinks might make for a good “crypto czar.”
Show highlights:
Why Cody that Atkins leading the SEC would be a massive transformational shift
What can be expected from Atkins given his prior experience
What crypto cases might be dropped under his leadership
Whether Atkins could provide rulemaking before Congress passes legislation
Cody’s hard criticism of Gary Gensler’s modus operandi
Why Cody thinks Trump could surprise people when it comes to replacing Democratic Cmr. Jaime Lizárraga
How long it could take for Congress to confirm Atkins
Why Cody believes that Atkins will support Hester Peirce’s Safe Harbor proposal
Whether the CFTC will be the primary regulator of the crypto industry in a Trump administration
Whether the U.S. will have a crypto czar and who it could be
What crypto legislation Cody thinks is likely to be passed in 2025
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
Polkadot
iYield
Guest
Cody Carbone, President at The Digital Chamber
Links
Trump’s Office Picks:
Unchained:
Trump Taps Paul Atkins for Next SEC Chair, Making Good on His Crypto Promises
Democratic SEC Commissioner Is Stepping Down, but That Doesn’t Mean Trump Will Get 2 Outright Picks
Trump Taps Hedge Fund Manager Scott Bessent to Be Treasury Secretary
Trump’s Plans for a ‘Crypto Czar’ and a Crypto Advisory Council: Here’s What We Know
A Degen Administration? Why the Crypto Czar May Be Allowed to Own Tokens
Tracking Trump’s Cabinet and Staff Nominations
Congressional Results
John Reed Stark’s tweet:“current SEC Chair Gary Gensler is quietly working behind the scenes to lead the SEC from the grave”
Buckley LLP Infobytes Blog: SEC commissioner proposes cryptocurrency safe harbor
Fox Business: Perianne Boring among contenders to lead agency involved with crypto in Trump admin
Timestamps:
00:00 Intro
02:19 Why Cody believes Atkins would be a transformational SEC chair
03:13 Insights from Atkins’ past experience and what it means for crypto
07:19 SEC/crypto cases likely to be dropped under Atkins’ leadership
14:31 Potential for SEC rulemaking before Congress passes legislation
18:19 Cody’s critique of Gary Gensler’s regulatory approach
21:13 Why Trump might break with protocol to replace Democratic commissioner Jaime Lizárraga
23:27 Expected timeline for Congress to confirm Atkins
26:52 Support for Cmr. Hester Peirce’s Safe Harbor proposal
28:18 An expanded role for the CFTC in crypto regulation?
31:37 Speculation on the potential for a U.S. crypto czar
35:03 Key crypto legislation to watch for in 2025
38:24 Crypto News Recap
Learn more about your ad choices. Visit megaphone.fm/adchoices
Facebook's Libra sent shockwaves through Washington D.C. when it was announced with much fanfare last summer. Indeed, it sparked a conversation among policymakers and legislators about the benefits of cryptocurrency, and stablecoins specifically, as well as broader questions about what money is and the implications of a Facebook rival to the U.S. dollar. Since this summer, a number of countries have announced their intentions to digitize their own sovereign currency. In China, the country has ramped up its own efforts to launch a blockchain-based version of their currency. None of this is going unnoticed on the Hill and on this most recent episode of The Scoop, Perianne Boring explores why concerns about China are driving lawmakers to focus on the space.
In this episode we discuss:
The history of blockchain and cryptocurrency policywork in the US
China's 84 blockchain patents and its plans for a digital currency
Lawmakers concerns about China being the leader in blockchain and central bank digital currencies
Former CFTC chair Christopher Giancarlo's plan for a digital currency
If U.S. crypto regulation seems incredibly convoluted, this is the episode for you. Perianne Boring, the founder and president of the Chamber of Digital Commerce, and its global policy director and general counsel Amy Kim, discuss why U.S. regulation calls crypto assets currency, property, commodities and securities, and how that results in agencies enforcing their own laws without a higher level understanding of the technology. They also discuss what they call the "failure" of the regulatory regime that requires certain types of crypto companies to get licenses from 53 different states and territories and why no firms have so far even gotten close. They also advocate for the technology to be taxed more like currency than property, claiming that the current classification stifles usage of cryptocurrencies as currencies. We also dive into juicy questions like whether ether, which was sold in what we would now call an initial coin offering, is a security and what self-regulation of the crypto space could look like.
Chamber of Digital Commerce: https://digitalchamber.org/
Token Alliance: https://digitalchamber.org/initiatives/token-alliance/
Previous episodes on Unchained and Unconfirmed that touched on regulation:
Live from SXSW: Michael Casey and Paul Vigna, Co-Authors of The Truth Machine, on Why the SEC Has Issued Subpoenas to ICOs
http://unchainedpodcast.co/live-from-sxsw-michael-casey-and-paul-vigna-co-authors-of-the-truth-machine-on-why-the-sec-has-issued-subpoenas-to-icos
Caitlin Long on How 'Utility Tokens' Are Now Legal In Wyoming
http://unconfirmed.libsyn.com/caitlin-long-on-how-utility-tokens-are-now-legal-in-wyoming
SXSW Episode: Former DOJ Prosecutor Kathryn Haun on What the SEC Subpoenas and FinCen Letter Likely Mean
http://unconfirmed.libsyn.com/sxsw-episode-former-doj-prosecutor-kathryn-haun-on-what-the-sec-subpoenas-and-fincen-letter-likely-mean
The Tax Rules That Have Crypto Users Aghast
http://unchainedpodcast.co/the-tax-rules-that-have-crypto-users-aghast
How Crypto And Blockchain Technology Should Be Regulated
http://unchainedpodcast.co/how-crypto-and-blockchain-technology-should-be-regulated
Is The IRS Justified In Demanding Information On Millions Of Bitcoin Users?
http://unchainedpodcast.co/is-the-irs-justified-in-demanding-information-on-millions-of-bitcoin-users
Federal Prosecutor Kathryn Haun On How Criminals Use Bitcoin -- And How She Catches Them: http://unchainedpodcast.co/federal-prosecutor-kathryn-haun-on-how-criminals-use-bitcoin-and-how-she-catches-them
How Coin Center Is Helping Define The 'Big Fuzzy Gray Area' Of Blockchain And Cryptocurrency Law
http://unchainedpodcast.co/how-coin-center-is-helping-define-the-big-fuzzy-gray-area-of-blockchain-and-cryptocurrency-law
Thank you to our sponsors!
Bitwise: https://www.bitwiseinvestments.com/unchained
Keepkey: https://www.keepkey.com/
Preciate: https://preciate.org/, make a suggestion for who to recognize in a future episode at https://preciate.org/recognize/
Learn more about your ad choices. Visit megaphone.fm/adchoices