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Crypto Valley Association joins International Digital Asset Exchange Association

Image: Crypto Valley Association (Twitter)

Mon, 14 Oct 2019, 06:56 am UTC

Crypto Valley Association (CVA), a government-supported Swiss blockchain and crypto advocacy group, has become the latest organisation to join the International Digital Asset Exchange Association (IDAXA).

IDAXA was established earlier this year when six national trade associations – Blockchain Australia, the Singapore Cryptocurrency and Blockchain Industry Association (ACCESS), Japan Blockchain Association (JBA), Korean Blockchain Association (KBCA), Hong Kong Blockchain Association (HKBA) and the Taiwan Parliamentary Coalition for Blockchain & Industry Self-Regulatory Organisation – signed a Memorandum of Understanding at the inaugural V20 Summit.

The V20 in Osaka, Japan was a two-day industry summit held on June 28 and 29 for the world’s leading Virtual Asset Service Providers (VASPs), held in parallel to the G20 Leaders Summit. The objective was to develop a clear roadmap to ensure full compliance with a new set of recommendations from the Financial Action Task Force (FATF) for the global regulation of crypto-asset transactions.

The V20 included representatives from bitFlyer, Coinbase, Circle, Deloitte, SBI Group, Huobi, Kraken, Rakuten Wallet, BitMEX and many others.

One of the primary goals of IDAXA is to liaise with relevant government agencies and international bodies to create consistent international regulation, policy and national legislation in relation to crypto asset commerce. It also aims to improve digital asset financial literacy, prevent fraud and financial crime, and improving the global access to digital asset services, among others.

Christine Gschwend, Head of CVA's VASP/AML Task Force, noted the “leadership role” of IDAXA to represent the voice of the DLT community towards regulators and allowing fintech firms of any size to participate in developing industry standards.

"We look forward to connecting our members to the wider crypto community through joint collaboration on a number of topics,” CVA's Executive Director, Alexander Shell, added.

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