• Sat, Jan 19, 2019 05:56 AM
  • All times are UTC
  • Edition:
    International
Link copied

Crypto and blockchain firms Circle, Coinbase, ConsenSys and R3 join Global Digital Finance as founding members

Nov 01, 2018 09:32 am UTC

Leading crypto and blockchain firms have come together for a new initiative that aims to drive the adoption of digital finance.

Circle, Coinbase, ConsenSys, Diginex, R3, and law firms DLA Piper and Hogan Lovells, have become the founding members of Global Digital Finance (GDF) – a not-for-profit initiative based in London, New York and Hong Kong. These founding members will support GDF in “developing its global strategy and growing a community membership of firms who wish to adhere to the Code of Conduct.”

"Building public trust is essential to Circle and to democratizing finance using crypto assets and blockchain technology," said Jeremy Allaire, CEO of Circle. "We are proud to be joining an organization that is helping ensure the industry upholds the high standards the public deserves."

The GDF Code

GDF has released its industry-led Code of Conduct, or the GDF Code, and Taxonomy for Cryptographic Assets.

The release follows a 60-day open public consultation which received contributions from over 200 firms in the cryptoasset community and more than 100 individual submissions of feedback from individuals and organisations. The Code, according to GDF, is the starting point for a “shared rulebook” that will enable companies to demonstrate to their customers, markets and regulators that they are adhering to ethical and professional standards in their conduct.

“Individuals need to be able to distinguish crypto businesses that are trying to facilitate the safe transfer of digital assets, with a compliance-first approach, from those that may be pushing the boundaries of what may be considered legal in other areas”, says Zeeshan Feroz, UK CEO of Coinbase. “By adhering to the Code of Conduct, firms are making it clear to their customers that they take safety and security seriously.”

Notable industry contributors to the GDF Code of Conduct and Taxonomy include 11:FS, Accord Project, Applied Blockchain, Blockchain Research Institute, Circle, Coinfirm, Coinfloor, CoinShares, ConsenSys, Dash Core Group, DLA Piper, HUOBI, R3, State Street Corporation, Templum Markets, and others.

GDF said it also reached out to global regulators, standard-setting bodies and non-governmental organizations to help provide a consistent professional voice of responsible industry practitioners. It said that future components of the code under development will include additional principles for Custody, Anti-Money Laundering and Counter-Terrorism Financing.

According to the official announcement, companies will be able to register with GDF to attest to their organization’s adoption of the Code from Q1 2019.

GDF has published additional principles to the GDF Code of Conduct: Part IV – Principles for Cryptoasset Funds and Fund Managers and Part V – Principles for Token Comparison and Rating Websites. This consultation is currently open and will close on 31 January 2019.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $3,666.62 (0.00%)
  • XRP (XRP) $0.327100 (-0.35%)
  • Ethereum (ETH) $121.76 (-0.98%)
  • Bitcoin Cash (BCH) $128.13 (-1.39%)
  • EOS (EOS) $2.46 (-1.25%)
  • Bitcoin (BTC) $3,666.62 (0.00%)
Jan 18, 2019 (Friday)
11:26
Former Governor of Banque De France joins board of blockchain startup SETL
10:26
SAP launches blockchain solution to track pharmaceutical drugs
07:22
Crypto exchange Coinbase acquires Blockspring
06:37
ConsenSys co-founder Joseph Lubin joins crypto futures platform ErisX’s board
05:22
SEAT joins Spanish blockchain consortium Alastria
04:20
LG CNS joins Enterprise Ethereum Alliance
03:46
Grayscale launches investment trust for Stellar Lumens
Jan 17, 2019 (Thursday)
12:04
Wyoming lawmakers introduce bill to allow issuance of tokenized stock certificates
10:57
NGA Human Resources seeks to bring blockchain technology to HR & payroll processes
10:07
WWF unveils blockchain-based food provenance platform ‘OpenSC’
08:53
ABCC becomes first crypto exchange to add support for TRON’s TRC-10 tokens
07:16
South Korea’s Financial Services Commission to launch fintech sandbox in April
06:38
BitGo simplifies crypto trading for institutional clients via Genesis partnership
05:08
UPS’ venture arm invests in blockchain-based e-commerce startup Inxeption
04:08
Crypto exchange Binance enters European markets with new Jersey-based exchange
03:39
Blockchain firm R3 announces Corda Network and new governing foundation
Jan 16, 2019 (Wednesday)
11:52
Oil majors Chevron and Total join blockchain platform for energy commodity trading ‘Vakt’
10:45
Gibraltar Blockchain Exchange adds support for EOS on GBX-DAX
10:21
Blockchain startup Bitfury launches music division ‘Bitfury Surround’
09:34
Dubai telecom company du to develop blockchain solution for patient safety
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft