No longer on defense, Digital Chamber names new CEO as crypto policy shifts under Trump

As Congress and the Trump administration press on with plans to regulate crypto and bolster the industry, Digital Chamber President Cody Carbone plans to step into a new role at the advocacy group, which is set to switch up its strategy. 

Carbone will become CEO of The Digital Chamber in April, replacing its current chief, Perianne Boring, according to a statement released by the group this week. 

“For the first time, we have a government that recognizes the strategic importance of digital assets,” said Boring in the statement. “Now is the time to advance policy, drive adoption, and execute on the vision we have been fighting for over the past decade." 

"Cody has been a tremendous leader in Washington, and I have full confidence in his ability to take TDC to the next level," Boring added.

Boring, who founded the group over a decade ago, plans to transition into becoming chair of the board of directors. This comes as The Digital Chamber says it is moving from "a defensive stance to a bold, proactive strategy for shaping blockchain policy in Washington, D.C." 

The tides have turned for crypto over the past couple of months. Since President Donald Trump took office in January, he has signed executive orders to create a bitcoin reserve and another that created a working group of federal agency leads to focus on digital asset reports, among other tasks. Trump also tapped Republican Commissioner Mark Uyeda to temporarily lead the SEC as acting chair, and since then, the agency has released statements clarifying its stance on different areas in crypto and dropped enforcement actions against major crypto industry players. 

The Digital Chamber's newly announced leadership comes ahead of its DC Blockchain Summit next week. The group also plans to release a policy paper. 

Will a bill get signed this year?

Carbone said he is focused on both market structure and stablecoin bills. Last week, the Senate Banking Committee voted to advance the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), cosponsored by members of both parties. The bill aims to create a regulatory framework for stablecoins, defining when issuers fall under state or federal oversight. 

During the bill's markup hearing,  tension flared among some Democrats who said it was not ready for prime time. Sen. Elizabeth Warren of Massachusetts called the hearing a "show trial," criticizing the lack of debate. 

Carbone downplayed the tension, citing bipartisan support from lawmakers like Sen. Gillibrand. He emphasized a "general consensus" on the need for a stablecoin bill and expressed confidence in its passage.

"I am the most optimistic than I've ever been that we will get stablecoin legislation passed and signed by the president in the next few months," he said.

An overarching market structure bill, though, may be a different story. 

Bills have not been introduced in this Congress yet, but they are seemingly the next plan of action. Lawmakers try to pass large bills to "solve all the world's problems in one fell swoop," Carbone said. 

Last year, lawmakers passed a Republican-led crypto market structure bill with seventy-one Democrats voting in support of the bill, including former Speaker of the House Rep. Nancy Pelosi of California. 

That bill was written from a position of legislating against former SEC Chair Gary Gensler and former President Joe Biden, Carbone said. 

"They don't have to do that now, and so I think there was maybe a lot of concessions made," he said. 

Carbone also said he wants to communicate to lawmakers that blockchain can solve several macro issues in the U.S., including those involving national security, underbanking and cyber resilience. That also means a focus on states and local communities, Carbone said.  

"So we will be having a laser-focused approach to educating every branch of government, every single agency and positioning to them how blockchain can be a solution to some of the issues they've been hearing from Americans," he said.