RATE Group | U.S. Cryptocurrency Exchanges Set to Meet in September to Discuss Self-Regulation
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U.S. Cryptocurrency Exchanges Set to Meet in September to Discuss Self-Regulation

21 Aug U.S. Cryptocurrency Exchanges Set to Meet in September to Discuss Self-Regulation

Posted at 03:20h in Cryptocurrency News by

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Winklevoss

A working group led by cryptocurrency exchange Gemini will hold its first meeting in September to discuss forming a self-regulatory organization (SRO) to oversee the burgeoning U.S. crypto trading market.

Announced on Monday, the Virtual Commodity Association (VCA) initially includes participation from four cryptocurrency exchanges that serve U.S. customers: Gemini, Bitstamp, Bittrex, and bitFlyer USA.

Representatives from these firms will meet in September to discuss forming an SRO, which will include drafting best practices for the industry and determining guidelines for membership in the VCA. They will also choose an executive director for the organization.

“This is the first of many steps in policing the digital asset markets and answering the call of regulators,” said Yusuf Hussain, head of risk at Gemini.

“We believe in the value of self-regulation, which we pursued in Europe almost from our inception, and look forward to following a similar path in the U.S. Those…

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