The Washington D.C-based Blockchain Association launched the Market Integrity Working Group today. This initiative is meant to ensure greater transparency and provide a clear regulatory framework regarding cryptocurrency to consumers. The working group will be co-chaired by Breanne Madigan, Head of Global Institutional Markets at Ripple and Rachel Nelson, Senior Director, Associate General Counsel – Regulatory at Coinbase.
The lack of clear understanding regarding the regulations that govern the cryptocurrency market has become a major barrier to cryptocurrency adoption. For exchanges, the vague state-by-state regulatory frameworks in the United States creates barriers for new exchanges to enter the space. The group will address key areas of concern regarding poor mainstream and institutional adoption of digital assets.
The Market Integrity Working Group will focus on providing greater clarity regarding the integrity of cryptocurrency and the regulations surrounding it. In its announcement, the Blockchain Association stated
“Consumers and cryptocurrency exchanges deserve a clear regulatory framework, the establishment of which would ultimately enhance market integrity and drive consumer adoption of cryptocurrencies.”