National Crypto Associations Will Create A Global Group For …

National Crypto Associations To Create A Global Group To Work With Authorities

Group of National Associations of Virtual Service Providers assets (VASP) intends to form a single association that will be represent the industry globally, writes Cointelegraph.

National Crypto Associations Will Create A Global Group For ...

According to the press release, the Protocol of Understanding was signed by the Australia Digital Commerce Association (ADCA), the Singapore Cryptocurrency and Blockchain Industry Association, and the Japan Association. blockchain, Korean Blockchain Association, Hong Kong Blockchain Association, and Taiwan Parliamentary Blockchain and Self-Regulation Coalition.

Signing document took place at the first V20 VASP summit, which took place in parallel with the G20 meeting in Osaka and was aims to provide cooperation between virtual asset service providers and regulators.

ADCA Founder and V20 Coordinator Ronald Tucker stated: “We have combined of all on the way to create new organ, which the will help create new funds liaising with government departments and the Financial Action Task Force on Money Laundering (FATF) to ensure that our the best interests are understood and appreciated at the international level “.

According to the document, the members of the associations intend to establish a dialogue with the authorities and regulators, support exchange information, promote uniform policies and procedures, raise awareness of industries and provide compliance with legal requirements.

Earlier, FATF came up with an initiative to exchange data on clients between exchanges cryptocurrencies in progress transactions.