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.