The emergence of digital assets, cryptocurrencies, and their underlying blockchain technology is rapidly transforming the global monetary system. 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 behavior that can develop in rapidly evolving market segments. The Global Digital Asset and Cryptocurrency Association (Global DCA) was established to guide the evolution of this new technology within a regulatory framework designed to build public trust, foster market integrity and maximize 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.
Matt Lisle, Chairman of the Global DCA and General Counsel for DrawBridge Lending, LLC notes that “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 agrees and notes that “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.”
Global GDA has signed up several members including DrawBirdg, Fintank, Inca Digital and UAE Based GRIP Investments to name a few.