Bitcoin industry leaders launch DATA, a self-regulatory body for digital currencies
Luminaries in the bitcoin community have launched a self-regulatory body in an apparent attempt to gain a cohesive voice in the ongoing tussle with financial regulators. The Committee for the Establishment of the Digital Asset Transfer Authority will "work proactively with regulators and policymakers to adapt their requirements to our technologies and business models," said the new group, in an announcement earlier today. "We must develop and implement common risk management and compliance standards that address the public policy concerns associated with our businesses. And our firms must....
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The Gaming Industry is keen to embrace technological advances, says the executive chairperson of the Malta Gaming Authority (MGA), Joseph Cuschieri. However, there should be flexible regulatory frameworks that would innovate the industry to take advantage of the full developments that should also minimize risks to consumers. One area the structures would be considered is the use of cryptocurrencies like bitcoin for gaming purposes. Cuschieri said the currencies are gaining ground in Malta because certain financial institutions are being risk-averse. They are also adopting a very....
The lack of global financial industry data standards for financial instruments has created chaos for digital currency startups and the financial sector as a whole. Even more devastating is the intensification effect this lack of standards has had during recent financial crises. The ACTUS project aims to mitigate these problems by creating and....
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Things are moving quickly in Europe at the moment in regards to cryptocurrency and the Blockchain. The Committee on Economic and Monetary Affairs of the European Parliament scheduled to vote on the virtual currencies report in a matter of days, with the hot summer for cryptocurrency and Blockchain legislation ahead. In February, the Council of the European Union put virtual currencies on top of a list of targeted areas for rapid progress which led to the topic of digital currencies rising up the ladder of policy agenda in all major institutions. A new independent non-profit trade body....
The US government has called for the formation of a “responsible innovation” fintech department to spur the growth of emerging technologies including cryptocurrencies, the Blockchain technology and other financial technologies that could enhance existing financial systems. US regulatory body the Office of the Controller of the Currency (OCC), which previously expressed their optimism towards digital currencies and the Blockchain technology, is planning to launch three offices in Washington, New York and San Francisco led by a chief innovation officer. The 30th Comptroller of the Currency....