Chamber of Digital Commerce gets approval to join the SEC vs Ripple lawsuit
The crypto advocacy group is granted the status of "the friend of the court." A United States crypto advocacy group, the Chamber of Digital Commerce (CDC), has been granted approval from the Court of Southern District of New York to participate as an amicus curiae in the U.S. Securities and Exchange Commission (SEC) case against Ripple Labs. The status of “friend of the court” permits them to assist a court by providing information, expertise or insight. An order was signed by Judge Analisa Torres on Sept. 21. The CDC shall file its brief by Sept. 26. While explaining its interest in the....
Related News
The FinCEN action against XRP II LLC (Ripple) took many by surprise early last month, although many in the Bitcoin community were not shocked to see an organization with such close ties to a digital token face backlash for "willful violations" of the Bank Secrecy Act (BSA) and failure to implement appropriate anti-money laundering (AML) procedures. The Chamber of Digital Commerce has been quick to gain an in-depth understanding of the action taken against Ripple Labs, and the Washington, D. C. -based trade association plans to discuss the implications of the regulatory action in a public....
Just yesterday, we reported that the Chamber of Digital Commerce together with the Heritage Foundation would be holding a discussion panel on the topic of bitcoin and digital currency. Today, we're learning that the Chamber of Digital Commerce has received approval from the Internal Revenue Service (IRS) as a tax-exempt, not-for-profit organization under 501(c)(6) of the Internal Revenue Code. What this means is that the Chamber of Digital Commerce is not recognized federally as a business league that promotes both digital currency itself, and the growing industry behind it, as noted in a....
The Chamber of Digital Commerce goes to bat for a spot bitcoin ETF in The US. Plus, it goes for Chairman Gensler’s throat. The organization doesn’t mince words in the report titled “The Crypto Conundrum. Why Won’t the SEC Approve a Bitcoin ETF?” The Chamber of Digital Commerce argues that all of the standards that […]
Digital currency lobby group the Chamber of Digital Commerce receives approval from the Internal Revenue Service as a tax-exempt non-profit organization. On September 30, the Chamber of Digital Commerce announced it had received recognition from the U.S tax authority the IRS as a tax-exempt non-profit organization under the IRS Code Section 501 (c)(6) that classifies business leagues, chambers of commerce, real estate boards, boards of trade, and professional football leagues, which are not organized for profit, from paying taxes. In a press release, the Digital Chamber's President and....
The newly-established Chamber of Digital Commerce has reportedly registered a spending PAC (political action committee) with the Federal Election Commission (FEC), according to political news website The Hill, citing recently-disclosed documents. The formation of the PAC doesn't mean the Chamber is planning to put their support behind any particular candidate at this juncture, but it is in preparation for things to come. And just what those things are is anyone's guess. "We're in the very earliest stages of setting up," said Perianne Boring, President of the Chamber, to The Hill. "We....