Public Policy & Regulation Committee

Purpose

• The Public Policy and Regulation Committee (PPR Committee) functions to advance the Global DCA’s goal of reducing the ambiguity and complexity of the current legal and regulatory landscape for digital assets and cryptocurrency.

• PPR activities promote regulation which balances the need for innovation and advancement of the digital asset and cryptocurrency industry and technologies while protecting consumers and the public interest.

Responsibilities

• To directly contribute to the delivery of the Global DCA’s strategic objective of reducing the ambiguity and complexity of the current legal and regulatory landscape and promoting “balanced” regulation, the responsibilities of the PPR Committee are to:

  • Advise and provide insights on legal and regulatory trends to the Global DCA and identify opportunities for legal and regulatory engagement, awareness building with key legislators and regulators, and opportunities to provide feedback and insight on needed legal and regulatory reforms (both US domestic, foreign and global in nature).

  • Advocate for strengthening and developing ‘fit for purpose’ legal and regulatory frameworks which best support the current and future growth of the digital asset and cryptocurrency industry and underlying technologies, including through outreach activities and speaking engagements.

  • Act as a trusted advisor to legislators, regulators and broader stakeholders with an interest in improving the legal and regulatory frameworks related to the digital asset and cryptocurrency industry.

  • Provide assistance and support (through public policy research, white papers, or other appropriate means) to the development of the Global DCA’s approach to new and evolving forms of technology, regulation, and evolution of the marketplace.

  • Guide the development of global principles-based standards which address the lack of clarity and best practices in the marketplace and provide global guidance as relates to the development of businesses in the industry.

  • Enable access to materials, resources and expertise from Global DCA member organizations and partners, including international development partners, to support the development of the industry globally (e.g. standards, guidance, educational materials, and tools).

Activities

• AML / KYC: The PPR Committee presently maintains a working group to explore the development of standards and best practices in AML / KYC of digital assets. Initial efforts are targeted at undertaking comprehensive literature review, reflecting on minimum level of best practice needed to support the digital assets space, and key recommendations regarding clarity and guidance on application in practice.

• Market Surveillance: This working group is conducting research into the subject of cryptocurrency market surveillance. Drawing upon the knowledge and experience of key experts in this area, the group will be providing summary, reflections and recommendations on this subject to the broader Committee.

• Clarity on Accounting / Auditing / Taxation for Digital Assets: The PPR Committee is undertaking collaborative work, outreach and engagement on the subject of clarifying accounting / auditing / tax requirements both in the US and internationally is recognition of the serious challenges presented to both accounting / auditing firms as well as internal finance and accounting departments of cryptocurrency and digital asset related businesses. 

• Previous Activities:

  • Global DCA (Formerly the HLWG) Comment Letter Regarding SEC Proposal for Revising the “Accredited Investor” Definition - Amending the “Accredited Investor” Definition; File No. S7-25-19

  • Chair Tony Pettipiece - Bitcoin Chicago (Salvi Media) – Importance of the Global DCA: video

Leadership (Co-Chairs)

• Tony Pettipiece    [email protected]

• Katherine Cooper