Perianne Boring

“I have the great privilege and honor of serving as the Founder and President of the Chamber of Digital Commerce, the world's largest trade association representing the blockchain industry.”

“Death is a dying industry with an economic phenomenon.”

“Blockchain technology has such a wide range of transformational use cases, from recreating the plumbing of Wall Street to creating financial sovereignty in the farthest regions of the world.”

“Bitcore was introduced to give a trusted platform to spur further bitcoin innovation, allowing BitPay to focus on what they do best: acquire merchants.”

“If you are not an accredited investor, you only have one option: to buy and hold bitcoin on your own. The process of acquiring bitcoin is risky and requires a lot of due diligence to navigate the landscape properly.”

“When you take a look at how the IRS treats foreign currency, bitcoin doesn't have the same taxation regime. Foreign currency gains and losses generally are taxed as ordinary income.”

“FinCEN directs financial institutions to file suspicious activity reports (SARs) to inform law enforcement of certain types of cyber-enabled crime. As the agency charged with protecting the United States from financial crime, FinCEN's guidance does not deem financial institutions who process such transactions to be involved in a criminal activity.”

“The blockchain industry generally agrees that some kind of a national license or charter is the best way to go, similar to the United Kingdom, where there is only one central regulator.”

“Bitcoin has been described as a decentralized, peer-to-peer virtual currency that is used like money - it can be exchanged for traditional currencies such as the U.S. dollar or used to purchase goods or services, usually online. Unlike traditional currencies, Bitcoin operates without central authority or banks and is not backed by any government.”

“Exchanging bitcoin on behalf of ransomware victims should not be construed as criminal activity by the exchanger, not as a matter of law nor as sound policy. Such an interpretation would set a precedent that would surely cause real harm to the public, to the blockchain ecosystem, and to the financial services industry as a whole.”

“The key benefits of a Special Purpose National Bank Charter are uniform regulations, standards, supervision, and authority for emerging financial technology companies to operate nationwide.”

“The Cyprus Financial Crisis was a devastating blow to Cypriots and halted their banking system. Banks closed for two weeks to prevent a banking panic. When they reopened, capital controls were placed on the people's money, and customers were met by armed guards at the branches.”

“A new product, technology, or innovation - such as Bitcoin - has the potential to give rise both to frauds and high-risk investment opportunities. Potential investors can be easily enticed with the promise of high returns in a new investment space and also may be less skeptical when assessing something novel, new, and cutting-edge.”

“An unsolicited sales pitch may be part of a fraudulent investment scheme. Exercise extreme caution if you receive an unsolicited communication - meaning you didn't ask for it and don't know the sender - about an investment opportunity.”

“In March 2013, FinCEN issued guidance for virtual currency businesses - giving the industry some degree of clarity about how to be compliant on the federal level.”

“I hold no economic interest in any company in this industry; however, I do hold and use digital currency for my personal use. I strive to keep myself non-biased and work with the highest integrity.”

“Daniel Masters is a master of the commodities markets with over 30 years experience. His bitcoin strategy is based on the parallels he sees from the oil industry in 1999 to the current state of bitcoin.”

“BitPay is the leading payment processor for bitcoin. The company specialize in setting up merchant accounts to accept bitcoin payments.”

“Applying criminal law to the exchange of bitcoin on behalf of ransomware victims would create a morally shocking result of re-victimizing a victim. All lawfully operating digital currency exchanges would thereafter refuse to exchange bitcoin for ransomware victims for fear of criminal culpability.”

“Businesses which were slow to recognize the power of the Internet in the mid '90s were quickly left behind. For example, Blockbuster failed to innovate with streaming technology and filed for Chapter 11 bankruptcy in 2010.”