Uncategorized – Global DCA

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JOIN US! Global DCA Proudly Supports #NFTIndia – February 24, 2022

February 24, 2022 – The Global DCA is proud to sponsor the NFT India Conference hosted by the Internet and Mobile Association of India (IAMAI) and Global DCA Member Firm RARIO. Numerous Global DCA Member Firm representatives will be taking the stage including from CrossTower, CryptoSavannah and Pink Panda. The IAMAI has always been at the forefront of promoting new digital products and technologies and helping develop a healthy digital asset industry. As the Non Fungible Token (NFT) market rapidly expanded in 2021, discussions about the future of NFT have accelerated. Although the topic of high-priced art transactions and successful auctions have attracted a lot of attention, NFTs are a technology that adds value not only to the final product, but also to the background and history of the production, the connection between fans and artists, and the process of taking on new challenges. India is witnessing the start of a new revolution – join this virtual event to learn more! REGISTER HERE


Global DCA Recommends “FinCEN should use this moment as an opportunity to re-imagine the BSA/AML framework in light of new and emerging technologies”

On Monday February 14th, the Global Digital Asset & Cryptocurrency Association welcomed the opportunity to respond to FinCEN’s request for information to solicit comment on ways to streamline, modernize, and update the anti-money laundering and countering the financing of terrorism (AML/CFT) regime of the United States. The Global DCA applauded FinCEN’s purpose in requesting this feedback from the industry and recommended that FinCEN should use this moment as an opportunity to re-imagine the BSA/AML framework in light of new and emerging technologies. (more…)


Global DCA Comment Letter to FinCEN on Proposed Rule for Transactions in Convertible Virtual Currency and Digital Assets

“While the GDCA fully supports protecting U.S. national security and acknowledges the concerns surrounding unhosted wallets raised by FinCEN, we suggest […]to focus on the source of funds and the concept of “Know Your Customer” during the KYC/AML onboarding and monitoring process instead of focusing on the means and in effect penalizing a specific technology solution that is believed to be utilized by bad actors.  The GDCA questions whether applying extensive reporting, verification and recordkeeping requirements on the holders of self-hosted wallet solutions is the most effective approach to capture illicit activity and suggests that closer consideration should be given to the source of funds and the risk profile of a customer or a counterparty while evaluating transactions in digital assets.” – Global DCA. Read Response Letter