Just In Time? Winklevoss-Backed Crypto Self-Regulatory Effort Picks Up Steam
Crypto markets have fallen on hard times recently with declining prices and increasing regulatory attention, but a new Winklevoss twin-backed group is looking to lay the groundwork for a self-regulatory body that would clean up the industry. The Virtual Commodities Association, first proposed in March 2018 and officially launched on Monday, is an industry working group comprised of cryptocurrency exchanges and custodians. Its intention to work “toward the goal of establishing an industry-sponsored, self-regulatory organization for the U.S. virtual currency industry, specifically virtual commodity marketplaces.” ssd“In keeping with our mission to build the future of money and our belief in the importance of thoughtful regulation in the virtual currency industry, we have decided to join the Virtual Commodity Association working group,” Cameron Winklevoss, co-founder of Gemini, a crypto exchange, explained in a Medium post on Monday.