The Global Digital Asset and Cryptocurrency Association Announces Creation of the Compliance Community of Practice
Chicago, Illinois - February 21, 2023 - The Global Digital Asset and Cryptocurrency Association, the preeminent self-regulatory association for the digital asset and cryptocurrency industry, announces the creation of its Compliance Community of Practice (C-COP). The C-COP aims to provide practical guidance and insights to Chief Compliance Officers and their teams as they develop compliance frameworks for businesses evolving in digital assets. The chairpersons selected to lead this important new initiative include the following industry experts and leaders in the regulatory space concerning digital assets: Joe Schifano, Global Head of Regulatory Affairs at Eventus and Elizabeth Davis, Partner at Davis Wright Tremaine LLP. “The C-COP provides a vehicle through which the Global DCA may support its member firms in sharing lessons learned and best practices in the area of digital asset compliance ,” said Gabriella Kusz, CEO of the Global Digital Asset and Cryptocurrency Association. “We believe in a modern approach to self-regulation which not only includes standards and guidance, and education and certification, but also supporting digital asset firms as they work to build systems, policies and procedures to mature the ecosystem, protect consumers and advance market integrity.” Financial institutions have dealt with uncertainty and “regulation-by-enforcement” for decades,” said Schifano. “The enduring lesson is to proactively set up reasonably designed governance frameworks while the policy debate continues. I look forward to participating in a network of compliance professionals who will cut through the noise and share best practices to support their businesses.” With heightened scrutiny on compliance programs, the importance of having...
What Did We Do? I Why Did We Do It? I How Did It Benefit Your Firm and the Industry at Large?
Dear Colleagues, I wanted to take a moment to share this year' IMPACT 2022 Report and I strongly encourage you to deep dive into a few of the key sections (e.g., ROI for Membership, The Road to Self-Regulation, Balanced Regulation - Our North Star). IMPACT reporting is one way that we at the Global DCA communicate transparently and openly with Member Firms, Candidate Firms, Legislators, Regulators and Stakeholders. In doing so, we seek to answer a few very important questions: What did we do? Why did we do it? How did it benefit your firm and the industry at large? 2022 Key Milestones... Although this year was challenging, I wanted to highlight and applaud our Board, Advisory Board, Member Firms and broader Community of Industry Peers on the achievement of a few key milestones: We almost doubled our membership to 93, all which have been vetted and committed to our code of conduct We delivered $6 of value per $1 of member fees through our relentless drive to the commercial success of members We made 80 congressional visits to educate lawmakers and politicians on what balanced regulation looks like and the necessity for an independent self-regulatory organization (or SRO) We ran numerous consultations that have informed our robust SRO framework project and established our Steering Committee to drive Core Principles and responsible innovation in the digital asset industry. The Global DCA Takes ACTION to Make IMPACT... In other words, the Global DCA is taking ACTION to make IMPACT. Having worked in financial sector and economic reform previously, I...
Bipartisan Senators Propose Regulatory Overhaul of Crypto Markets
On June 7, 2022, Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) unveiled their long-awaited bipartisan framework to overhaul the regulation of cryptocurrencies and digital assets. The “Responsible Financial Innovation Act,” seeks to provide certainty and clarity to the digital asset and blockchain industries, along with the agencies governing these industries. The proposed legislation, which has been in development since March 2022, would define most digital assets, including bitcoin and ether, as commodities, enact rules governing stablecoins, and provide the CFTC with exclusive jurisdiction over digital asset spot markets. Authored by Gaurav K. Talwar, Attorney at Law, McGonigle - Originally published in blockchainlawcenter.com Read Full Article Here
Who’s Who In Crypto: Gabriella Kusz, Chief Executive Officer at Global Digital Asset and Cryptocurrency Association
What does crypto mean to you and what drew you to it? Crypto means transformation and evolution of the financial sector. As a professional who has spent a significant portion of her career ushering in financial sector transformation my ah-ha moment happened when I began to see the broader impacts of the industry as a first wave of the Fourth Industrial Revolution. In my previous roles, I have supported countries in transitioning towards free-market economies or in diversifying their economies away from petrochemical industry reliance or in advancing transparency and accountability post-Arab Spring. Crypto is the tip of the iceberg and ensuring inclusive, participatory and representative engagement in our global financial future will require supporting broad financial sector transformation. What drew me to crypto was the opportunity to lend my global lessons learned, experience in capacity building and enhancing shared prosperity in an emerging and more impactful way. Read Full Article Here
Global Digital Asset and Cryptocurrency Association Appoints Gabriella Kusz to CEO Position – MarketWatch
The Global Digital Asset and Cryptocurrency Association, a self-regulatory association for the digital asset & cryptocurrency industry, is pleased to announce that Co-founder and Board Member, Gabriella Kusz has unanimously been appointed to the CEO position. With nearly 20 years of financial services public policy experience and sustainable programming innovation successfully put into effect at government agencies and SROs globally, Gabriella will lead the association’s strategic plan to develop industry standards and best practices, implement education and certification programs to build human capacity, and advocate for a public policy and regulatory environment that facilitates innovation and protects consumers, stakeholders, and the broader public interest worldwide. Read Full Article Here
