The DC Blockchain Summit, hosted by the Chamber of Digital Commerce, kicked off in Washington DC today. Throughout the full day of meetings, experts from the government and private sector convened to discuss the current state and future prospects of blockchain technology, digital assets, and decentralized finance (DeFi). With topics ranging from the regulatory environment to the metaverse, the conference is shaping up to be a comprehensive exploration of how the US can develop forward-thinking policies shaping the digital asset markets.
The past year has been tough for crypto, with bad headlines due to the FTX collapse calling for increased scrutiny from policymakers. Engaging policymakers to design a policy framework that fosters innovation was the theme of the largest industry gathering in the nation’s capital.
The DC Blockchain Summit has gathered industry experts, early adopters, and policymakers, all interested in engaging in thoughtful discussion and debate that will help shape the future of digital assets.
Congressman Tom Emmer
During the opening session, Congressman Emmer, the House Majority Whip and Congressional Blockchain Caucus Co-Chairspoke about how blockchain technology and digital assets can help the US win the technological “space race.”
US House Majority Whip, Congressman Tom Emmer, a strong advocate for the creation of a regulatory framework for digital assets said that when he joined Congress, a staffer gave him a book to discuss the promises of blockchain and crypto to restore financial control to the individual.
“Eight years ago, I just saw this technology as a solution to the mismanagement of our monetary policy and the restoration of vital American values: privacy, individual sovereignty, and free markets,” said Emmer.
The US leadership in the global economy, according to Rep. Emmer, is “propelled by our ability to leverage innovations that make markets and communication more efficient.” He spoke of the next phase of the economy known as the “ownership economy.”
Enter crypto.
Rep. Emmer said that cryptocurrency is a technology that can empower individuals and shift economic power from centralized institutions back to the people. He noted that this could be seen as threatening to unelected bureaucrats and career politicians in Washington DC who seek to maintain and expand financial control over people.
“As government-controlled programmable money that can easily be weaponized into a surveillance tool, the very ethos of central bank digital currencies is everything Bitcoin and crypto stand against; it’s everything the United States of America stands against,” Rep. Emmer said.
Emer recently introduced the CBDC Anti-Surveillance State Act to protect financial privacy. Emmer said that it is “more important than ever” to ensure that the United States’ digital currency policy upholds “our American values of privacy, individual sovereignty,” and the competitiveness of free market.
“Crypto should be fostered and developed in the United States, just like the internet,” stated Rep. Emmer.
