Last year, many regulators around the world paid serious attention to cryptocurrencies and its regulation. Many countries are still skeptical about the potentials of digital assets and its underlying blockchain technology. Meanwhile some have taken a bold step and embraced this fast growing industry.

The U.S. has not been left out as the country has long been dealing with cryptocurrencies and its regulations.

According to the President of the Chamber of Digital Commerce, Perianne Boring, 2020 has already been a remarkable year in crypto-time.

Boring was a guest on the latest edition of the Off the Chain podcast with Anthony Pompliano. He noted that the association has been working with agencies like the U.S. Securities and Exchange Commission, along with FinCen. He said the association has been filling these agencies in about cryptocurrencies and the understanding gap that exists.

According to Boring, the crypto industry has grown faster over time. He therefore argued that it would be better for the governments to help shape the industry than for it to be shaped around them.

Boring also spoke about the Treasury Secretary’s speech from the White House around Anti-Money Laundering (AML) and terrorist financing. She claimed that she is appalled by the arguments brought by the agency

Boring said if that is what the agency is really concerned about, then they should be so excited about Bitcoin. She argued that, bitcoin is a radically transparent system and if their job is to follow the money, then the crypto industry has actually given them the best tool, ever possible to do that. She added that such pushback from authorities is really weird.

She further argued that tracking money could be the big step up for law enforcement agencies as the ledger can be viewed publically by anyone.

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