Global DCA

Frequently Asked Questions

What is the Global DCA?

The Global DCA is a self-regulatory association which gathers the full breadth of industry participants to help shape the future of the digital asset and cryptocurrency industry and create a transparent, accountable infrastructure that promotes integrity in all aspects of the market.

Why was the Global DCA created?

The emergence of digital assets, cryptocurrencies, and the underlying blockchain technology has begun to transform the global monetary system. To better facilitate this transformation, the current regulatory environment must be enhanced to provide all participants with unambiguous regulations that provide accountability, integrity and transparency to prevent the exploitive behavior that can develop in rapidly evolving market segments.

The Global Digital Asset and Cryptocurrency Association (Global DCA) has been established to guide the evolution of this new technology within a regulatory framework designed to build public trust, foster market integrity and maximize economic opportunity for all participants.

What are the three strategic objectives of the Global DCA?

The Global DCA is guided by principles of accountability, integrity and transparency and seeks to fulfill the strategic objectives of:

What makes the Global DCA unique? The Global DCA is unique in a few ways:

How will the Global DCA “Self-regulate”?

The Global DCA has designed a self-regulatory mechanism that focuses on: standards setting, education and certification, and the utilization of market surveillance and enforcement mechanisms (including a dispute resolution forum). Global DCA self-regulation will be guided by the principles of accountability, integrity and transparency to promote the highest professional and ethical standards for its members and to achieve its overarching objective of promoting integrity in all aspects of the market.

As a first step, the Global DCA will use its Code of Conduct to raise awareness amongst its members of the obligations of membership, produce educational materials to support understanding and implementation in practice and then undertake monitoring and assessment activities to ensure alignment with the Code of Conduct and its principles.

Why would we go out of our way to create more regulation?

Industries that organize and self-regulate create a means by which the industry as a whole may improve the quality of services and products provided. What are the benefits of self-regulation?

If the Global DCA supports self-regulation does that mean that you do not support regulation by government or independent agencies?

No. The Global DCA supports the creation of balanced regulation – i.e., regulation which balances the need for advancing technology and innovation with the need to protect consumers, stakeholders and the general public.

How does the Global DCA intend to position itself as relates to governments, agencies, and regulators?

The Global DCA seeks to act as a centre of excellence to these counterparts and provide industry perspective, member and stakeholder insight, and technical and industry expertise to support governments, agencies and independent regulators in developing balanced regulations.

Our focus and efforts are on working in partnership with various international, governmental and jurisdictional agencies and departments to promote the development of modern (up to date), clear legal and regulatory frameworks which embrace technology and innovation while protecting consumers and the public.

Our firm is really challenged by existing legislation and regulations. What is the Global DCA doing about this?

Around the world, digital asset and cryptocurrency businesses and service providers are challenged by outdated, ambiguous and complex legal and regulatory environments. Navigating these environments is costly and time-consuming.

In response to these challenges, the Global DCA recognizes legal and regulatory engagement as one of its three strategic objectives. Additionally, it has created a Public Policy and Regulation Committee to guide our policy and regulatory positioning, identify key national as well as international opportunities for engagement, and to lead dialogue and communication in this area. As we develop our organization and on-board our membership, we will continue to build our voice and footprint in these areas and represent our industry with integrity in our policy positions.