Self-Regulatory Association Seeks to Further Market Integrity, Consumer Protection, and Industry Development
CHICAGO--(BUSINESS WIRE)--#bitcoin--The emergence of digital assets, cryptocurrencies, and their underlying blockchain technology is rapidly transforming the global monetary system. To better facilitate this transformation, the current regulatory environment must be enhanced to provide all participants with unambiguous regulations that provide accountability, integrity and transparency to prevent malicious behavior that can develop in rapidly evolving market segments. The Global Digital Asset and Cryptocurrency Association (Global DCA) was established to guide the evolution of this new technology within a regulatory framework designed to build public trust, foster market integrity and maximize economic opportunity for all participants. By devising standards and consensus-based solutions, the Global DCA will address the major challenges facing the digital asset and cryptocurrency industry.
Matt Lisle, Chairman of the Global DCA and General Counsel for DrawBridge Lending, LLC notes that “daily, we see headlines reflecting a great struggle for the legitimacy of this new asset class within a lightning-fast, rapidly changing environment. A healthy robust industry needs structure, standards and an efficient regulatory framework to thrive.”
Renata Szkoda, Treasurer of the Global DCA and CFO of Blue Fire Capital agrees and notes that “blockchain technology is groundbreaking and represents in so many ways a ‘reset’ within the world of traditional finance, banking and financial investment. The development of an unambiguous and suitable regulatory framework that is tailored to the needs of this developing technology is necessary for its evolution and mass adoption. At this stage, in my opinion, a unified industry engagement is essential and the Global DCA provides a compelling forum for it.”
On October 9th, the Global DCA celebrated the culmination of months of effort with the formal launch of the self-regulatory association. Co-hosted by Stradley Ronon and the Digital Asset Working Group (DAWG) along with media support from Salvi Media, this event brought together distinguished speakers including Congressman Bill Foster (D-IL); Dr. Richard Sandor of American Financial Exchange (AFX); Kristin Boggiano of CrossTower, former Chairman and CEO of CNA Insurance Dennis Chookaszian; CEO of Hehmeyer, Christopher Hehmeyer; Chairman of GRIP (DIFC) Investments, Tony Pettipiece; Distinguished Expert at the Global SME Policy Network (GSPN) at Prince Sultan University (Riyadh, KSA), Gabriella Kusz; and CEO of LevelTrading, Lanre Sarumi; to share their perspectives on the evolution of the cryptocurrency and digital asset industry, the value of self-regulation, and the development journey of the Global DCA. To learn more about the Global DCA visit: www.global-dca.org.
ABOUT THE GLOBAL DIGITAL ASSET & CRYPTOCURRENCY ASSOCIATION
The Global DCA is the global self-regulatory association for the digital asset & cryptocurrency industry. Its broad-based membership includes spot and derivative exchanges, proprietary trading firms, traders, investors, asset managers, brokerage firms, Futures Commission Merchants (FCMs), custodians, decentralized technology organizations, banks, legal firms, audit firms, insurance professionals, non-profits, and academics.
Gabriella Kusz, Director, Global DCA