Global Digital Asset and Cryptocurrency Association officially launches
The Global Digital Asset and Cryptocurrency Association (Global DCA) has launched with the aim of guiding the evolution of this new technology within a regulatory framework designed to build public trust, foster market integrity and maximise 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.
The Global DCA believes that 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 behaviour that can develop in rapidly evolving market segments.
Matt Lisle, Chairman of the Global DCA and General Counsel for DrawBridge Lending, says: “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, adds: “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.”