Categories: News

National cryptocurrency associations will create a global association of digital assets

A group of national associations representing virtual asset service providers (VASP) plans to create a single association that will represent the industry at the global level.

The Memorandum of Understanding is reportedly signed by the Digital Commerce Association of Australia (ADCA), the Singapore Cryptocurrency Industry Association and the Blockchain, the Japanese Blockchain Association, the Korean Blockchain Association, the Hong Kong Blockchain Association and the Taiwan Parliamentary Blockchain and Self-Regulatory Coalition.

The document was signed at the V20 VASP summit, held in parallel with the G20 summit in Osaka. The purpose of the agreement is to ensure cooperation between virtual asset service providers and regulators. ADCA founder and V20 coordinator Ronald Tucker said:

“We decided to unite everyone to move in one direction and create a new body that will help develop tools for interaction with government departments and the Financial Action Task Force on Money Laundering (FATF). Thanks to this, we hope to create an ecosystem in which our interests will be understood and appreciated at the international level. ”

The document argues that the new association will deal first with building relationships with authorities and regulators, and will also support the exchange of information, promote uniform policies and procedures, develop tools to raise awareness in the industry and ensure legal compliance.

Recall that the FATF has previously published a document that includes recommendations on cryptocurrency regulation for 37 states. It states that virtual asset service providers are required to share customer information among themselves when transferring funds.

Miners Hashrate

Recent Posts

Mining RTX 3070 at NiceHash: Overclocking, tuning, profitability, consumption

Mining on RTX 3070. Overclocking, tuning, profitability, consumption: If you are interested in finding more…

6 months ago

Mining GTX 1660, 1660 Ti, 1660 Super: Overclocking, settings, consumption

Mining with GTX 1660, 1660 Ti, 1660 Super. Overclocking, settings, consumption, profitability, comparisons - If…

6 months ago

Mining RTX 2070 and 2070 Super: Overclocking, profitability, consumption

Mining with RTX 2070 and 2070 Super. Overclocking, profitability, consumption, comparison What the RTX 2070…

6 months ago

Mining with RTX 3060, 3060 Ti. Limitations, overclocking, settings, consumption

Mining with RTX 3060, 3060 Ti. Limitations, overclocking, settings, consumption, profitability, comparison Let's look at…

6 months ago

Alphacool Eisblock Aurora Acryl GPX-A Sapphire – test: 2.8 GHz++ are not an issue

Alphacool Eisblock Aurora Acryl GPX-A (2022) with Sapphire Radeon RX 6950 XT Nitro+ Pure in…

6 months ago

Corporate Crypto Strategies 4.0: Leading with Bitcoin Expertise

In the ever-evolving landscape of business strategy, Bitcoin has emerged as a pivotal asset. With…

6 months ago

This website uses cookies.


Notice: ob_end_flush(): failed to send buffer of zlib output compression (1) in /home/gamefeve/bitcoinminershashrate.com/wp-includes/functions.php on line 5420

Notice: ob_end_flush(): failed to send buffer of zlib output compression (1) in /home/gamefeve/bitcoinminershashrate.com/wp-includes/functions.php on line 5420