30 Jul '13, 9am

Bitcoin industry leaders launch DATA, a self-regulatory body for digital currencies

Luminaries in the bitcoin community have launched a self-regulatory body in an apparent attempt to gain a cohesive voice in the ongoing tussle with financial regulators. The Committee for the Establishment of the Digital Asset Transfer Authority will “work proactively with regulators and policymakers to adapt their requirements to our technologies and business models,” said the new group, in an announcement earlier today. “We must develop and implement common risk management and compliance standards that address the public policy concerns associated with our businesses. And our firms must build risk management and compliance programs that meet those standards,” it added. The list of backers is a Who’s Who of players in bitcoin. Tony Gallipi, CEO of payment processor BitPay , Chris Larsen, CEO of Ripple and founder of OpenCoin , and Patrick Murck, general counsel for the Bi...

Full article: http://www.coindesk.com/bitcoin-industry-leaders-launch-d...

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