Cryptocurrency exchanges, regulate yourselves.

That’s what several want to do and are working with Gemini founders Cameron and Tyler Winklevoss to make an industry-focused self-regulatory organization (SRO) a reality. Gemini is part of a working group formed Monday to come up with new standards, according to Coindesk.

The Virtual Currency Association, first proposed in March, says it is a nonprofit but not a trade association in its manifesto. It will “work toward the goal of establishing an industry-sponsored, self-regulatory organization for the U.S. virtual currency industry, specifically virtual commodity marketplaces,” the manifesto says.

Besides Gemini, members of the working group include Bitstamp, Bittrex and bitFlyer. Read more here.

 

ThirtyK Staff
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