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Chamber of Digital Commerce Newsletter 04
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SIR RICHARD BRANSON JOINS CHAMBER OF DIGITAL COMMERCE AS HONORARY MEMBER

We are excited to announce that Sir Richard Branson of the Virgin Group has joined the Chamber of Digital Commerce as an Honorary Member. Big thanks to our advisory board members Matthew Roszak and Jim Newsome!
CHAMBER OF DIGITAL COMMERCE LAUNCHES ONLINE MEMBERSHIP PORTAL
Last week the Chamber of Digital Commerce launched its online membership portal at http://digitalchamber.org/membership.html and has invited the digital asset community to apply for membership.

As the trade association for the digital asset and digital currency sectors, the Chamber has developed five membership tiers for corporations and individuals. The chamber’s membership represents a cross-section of the digital asset community, including exchanges, wallets, payment processors, miners, software companies, financial institutions and investors. Membership is open to all those committed to supporting and growing this thriving ecosystem.
PROMINENT ADVISORY BOARD ANNOUNCED

The Chamber has also announced its Advisory Board, which includes Dr. Jim Newsome (former CFTC chairman and CEO of NYMEX), Carol Van Cleef (partner at Manatt, Phelps & Phillips), Mark Griffin (former assistant Utah attorney general), Matthew Mellon (chairman of MellonDrexel), Matthew Roszak (founding partner of Tally Capital) and George Gilder (technology thought leader). 

INDUSTRY BRIEFING: WHAT THE RIPPLE ACTION MEANS FOR DIGITAL CURRENCY BUSINESSES

Last Thursday, the Chamber held an industry briefing to discuss the implications of the first civil money penalty against a digital currency company. 

A recording of this briefing is now available on our website at: http://digitalchamber.org/industry-briefings.html

REGULATORY DEVELOPMENTS:

Below is a summary of key issues the Chamber is following -- further details to be discussed on our next call on June 23, 2015 at 12:00 PM/PT 3:00 PM/ET

NYDFS Releases Final BitLicense, Says He Will Step Down
On June 3rd, after almost two years of hearings, public comments and much debate New York Department of Financial Services Superintendent Benjamin Lawsky announced the final version of "BitLicense".  He then confirmed his plans to step down from his post this summer. According to the New York Times, he has plans to open his own firm and lecture at Stanford. 


Final BitLicense regulation can be found here: http://dfs.ny.gov/legal/regulations/adoptions/dfsp200t.pdf

California's AB-1326 Moves To Senate
Last week, California virtual currency legislation, AB-1326, which would forbid anyone from engaging "in any virtual currency business in the state unless the person is licensed or exempt from licensure", passed the Assembly 55-22 and is now under consideration in the Senate. 

Follow AB-1326 and track its developments here: https://leginfo.legislature.ca.gov/faces/billHistoryClient.xhtml
Membership Call:
June 23, 2015: 12:00 PM PDT / 3:00 PM EDT 
  • Topics of discussion: (1) CA AB-1326 developments and next steps, (2) NY BitLicense implementation, (3) federal regulatory update
  • Perspective members may participate in one membership call prior to joining. For more information, please contact Director of Development Susan Poole
AML- Compliance Bootcamp:
June 18-20, 2015 (San Francisco)

Conferences:
Mirror Raises $8.8 Million To Build Smart Contracts Platform
Mirror (formerly Vaurum) closed an $8.8 million round of financing bringing its total amount raised to $12.8 million. Mirror is a smart contracts platform powered by bitcoin, which aims to democratize access to financial markets through peer-to-peer trading. “There is an unbundling of the financial services industry that’s occurring right now, and we see an enormous opportunity to provide advanced, more efficient services for risk management and hedging,” said Mirror Co-Founder and CEO Avish Bhama.
Winklevoss Twins Recall Their Bitcoin Story With Nathaniel Popper
This week, in an interview with Nathaniel Popper, author of Digital Gold, the Winklevoss twins commented on the status of their bitcoin exchange, Gemini, “we feel like it’s weeks.. we’re on the two-yard line,” said Tyler Winklevoss.

Princeton Professor & Bitcoin Researcher Named to White House Post
Princeton University professor Dr. Ed Felten will be joining the White House Office of Science and Technology Policy as the Deputy U.S. Chief Technology Officer. Felton has indicated interest in Bitcoin and blockchain technology in the past and has attended BitLicense hearings where he presented a moderate view on Bitcoin. He currently serves as the Director of the Center for Information Technology Policy at Princeton and has worked as the first Chief Technologist at the U.S. Federal Trade Commission.

21 Inc Announces First Product
The secretive Bitcoin startup 21 Inc has unveiled embeddable chips for smartphones as its first product. The company said the BitShare chip has the capability to bring bitcoin to the masses by having customers use mined bitcoin for micropayments. 21 Inc has raised over $116 million from chipmaker Qualcomm, several venture capital firms and founders of billion dollar companies like eBay, Zynga, DropBox, Paypal and Expedia.

Nasdaq Begins Using Bitcoin Technology In Private Market
The NASDAQ stock exchange announced that it would utilize bitcoin’s blockchain to keep records of pre-IPO stocks traded in NASDAQ’s Private Market. The initiative uses the Open Assets Protocol, a blockchain-based colored coins application, which would help facilitate the issuance, transfer, and management of private company securities. 

USAA Forms Bitcoin-technology Research group
Texas-based financial institution for members of the military and their families, USAA, has created a research group to study bitcoin and bitcoin-based technology. According to USAA, the purpose is to help make operations more efficient.

Congratulations Proof of Workout Winners!
(the get fit with Bitcoin challenge)

Emily @ccproogofworkout
Elyse @elysebitpay
Connie @conniegallippi
Michele @BitcoinBelle
Laurel @laurelinwonder​

"Entrepreneurship requires strength, resilience, and self-confidence – bitcoin is a community of entrepreneurs building start-ups and small businesses – #ProofOfWorkout has been a great reminder to make time for ourselves during these early, but busy days." Perianne Boring, Chamber President

Click here for more info. 
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