Proposed Voluntary Framework for Digital Asset Tokens Designed to Determine Materials Information Enabling the Market to Make Knowledgeable Choices
CHICAGO, Oct. 20, 2024 /PRNewswire/ — The Global Digital Asset and Cryptocurrency Association (Global DCA), in collaboration with Global Blockchain Enterprise Council (BGGC), The Digital Chamber and the Proof of Stake Alliance, right this moment introduced the Proposed Information Guidelines for Certain Tokens Made Available in the United States, a complete, voluntary framework designed to boost transparency and allow knowledgeable decision-making in the quickly evolving digital asset market.
Outstanding attorneys together with distinguished legislation and finance students main in the fields of blockchain, digital property and Web3, developed and proposed the Guidelines as members of an neutral Senior Steering Committee:
- Chris Brummer – Professor of Regulation, Georgetown College, and College Director, Georgetown’s Institute of Worldwide Financial Regulation
- Lewis R. Cohen – Accomplice and Co-Head of the CahillNXT observe, Cahill Gordon & Reindel LLP
- Patrick Daugherty – Accomplice and Head of Digital Property Follow, Foley & Lardner LLP; Adjunct Professor of Regulation at Cornell and Northwestern
- Daniel Davis – Accomplice and Co-Chair Monetary Markets Regulation, Katten Muchin Rosenman LLP; Former Basic Counsel, U.S. Commodity Futures Buying and selling Fee
- Zachary O. Fallon – Accomplice, Ketsal PLLC
- Merritt B. Fox – Professor of Regulation & Director of the Program in Regulation and Economics of Capital Markets, Columbia Regulation Faculty
- Carol Goforth – Distinguished Professor of Regulation, College of Arkansas Faculty of Regulation
- Yuliya Guseva – Professor of Regulation, Rutgers Regulation Faculty
- Joel Hasbrouck – Kenneth G. Langone Professor of Enterprise Administration and Professor of Finance, NYU Stern Faculty of Enterprise
- Lilya Tessler – Accomplice & Head of FinTech and Blockchain Group, Sidley Austin LLP
- Yesha Yadav – Professor of Regulation, Vanderbilt College Regulation Faculty
The Steering Committee was suggested by the Advisory Committee composed of key trade stakeholders:
- Rachel Barnett – Chief Authorized Officer, IEX
- Jason Civalleri – Product Counsel, Grayscale
- William Costello – Basic Counsel, Gemini Belief Firm
- Robert Krugman – Chief Digital Officer, Broadridge
- Ajay Mittal, CFA – Product Technique, ConsenSys
- Nilmini Rubin – Chief Coverage Officer, Hedera
- Craig Salm – Chief Authorized Officer, Grayscale
- Lee Schneider – Basic Counsel, Ava Labs
- Annemarie Tierney – Founder and Principal, Liquid Advisors
The proposed Guidelines give attention to native distributed ledger know-how (DLT) tokens and are knowledgeable by U.S. securities, commodities, and shopper safety laws in addition to trade finest observe. The framework seeks to align with international requirements, together with the European Union’s Markets in Crypto-Property Regulation (MiCA), guaranteeing flexibility for the adoption inside totally different regulatory regimes. Additional, the Guidelines don’t impose obligatory disclosures however as an alternative supplies a fit-for-purpose, complete mannequin that stakeholders might voluntarily undertake.
“Global DCA expresses its honest gratitude to members of the Steering Committee and the Advisory Committee for their unwavering dedication and management in this groundbreaking effort. Your collective experience, insights, and exhausting work have been instrumental in shaping a framework that may improve transparency and belief in the Web3 trade,” stated Renata Szkoda, the Chair of Global Digital Asset & Cryptocurrency Association.
The Guidelines are open for public feedback from October 21, 2024 to January 31, 2025. Global DCA invitations suggestions from all stakeholders. Well timed feedback will probably be publicly out there and thought of by the Steering Committee for inclusion in the proposed Guidelines.
Easy methods to Submit Feedback:
events can submit feedback through e mail to: [email protected]
About the Global Digital Asset and Cryptocurrency Association
The Global DCA is a world main commerce affiliation for the digital asset & cryptocurrency trade. It was established to information the evolution of digital property, cryptocurrencies, and the underlying blockchain know-how inside a regulatory framework designed to construct public belief, foster market integrity, and maximize financial alternative for all members.
For extra info, go to https://global-dca.org/proposed-u-s-disclosure-guidelines/
Media Contact:
Christina Sciotto
[email protected]
312-593-5119
SOURCE The Global Digital Property Cryptocurrency Association
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