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Receive all Bitcoinist news in Telegram! 1 year anniversary on July 19, 2015. The Digital Chamber is truly on the forefront of the Bitcoin industry. CDC is the first and only Washington, DC-based trade association representing the digital asset industry. What are some objectives or activities the Digital Chamber is taking on at the moment?

Our mission is to promote the acceptance and use of digital assets and related technologies. Through education, advocacy, and working closely with policymakers, regulatory agencies and industry, our goal is to develop a pro-growth legal environment that fosters innovation, jobs and investment. We are based in Washington, DC and focused on US federal regulation and legislation. However, we also engage with the states and in international efforts with our counterparts and members around the globe, where appropriate. In our first year of operations, we have focused on educational efforts to lay the groundwork for our broader advocacy goals. 10 of these just in DC.

We are also looking to bring coordination between these various agencies and departments. Competing and contradictory rules and regulations could pose threats and unnecessary compliance costs for the industry. Could you share the Digital Chamber’s goals for this next year? Why are the startup costs for digital companies so exorbitant? I believe what Carol is referring to is obtaining money transmission licenses. Obtaining a license in one state does not give permission to operate in other states. In addition, it is a federal crime to be engaged in a state without a license if that state requires a license.