Wall Street Blockchain Alliance Announces Launch of Industry-Wide “Digital Asset Industry Principles” Initiative

The Wall Street Blockchain Alliance (WSBA), an industry leading non-profit trade association with a mission to guide and promote the comprehensive adoption of blockchain technology and digital assets across global markets, is proud to announce the launch of the “Digital Asset Industry Principles” initiative.

In the wake of recent adverse crypto market events, and in continuing consultation with participating members across a wide variety of industry segments, including but not limited to banking, trading, law, and technology, the WSBA is launching a collaborative, industry-wide effort to develop a set of universal principles designed with and for industry stakeholders. These principles are intended to address the many critical and unresolved issues that the WSBA believes are negatively affecting the digital asset ecosystems, its customers, and its investors, and thus inhibiting the long-term potential of blockchain technology and the widespread adoption of digital assets.

With a focus on the critical aspects of compliance, customer asset protection, disclosures, risk management, transparency, and more, it is our collective hope that these principles ultimately will form the foundation of a broader industry effort that will advance – safely and soundly – the digital assets world. This important initiative will promote and prioritize regulatory compliance while fostering continuing innovation in the digital asset space. With this principles-based approach, our goal is to encourage the development of digital and crypto asset offerings that serve the interests of both users and investors, as well as address the concerns of regulators and legislators.

“Now is the time for all stakeholders in the digital asset ecosystem – founders, users, builders, technologists, investors and more – to come together to lay the foundation for innovative, long￾term growth that serves the best interests of consumers and reduces risk for all industry participants,” noted Wall Street Blockchain Alliance Chairman Ron Quaranta. “By working together to draft these principles, all stakeholders with an interest in the future of digital assets will have an opportunity to speak with a collective voice. We call on all of our industry colleagues to join us for our launch meeting in January of 2023 to collaborate on this important initiative.”

About the Wall Street Blockchain Alliance

With members representing the worlds of banking, trading, investment, accounting, law, technology and more, the Wall Street Blockchain Alliance (WSBA) is an industry leading non profit trade association, with a mission to advocate, guide and promote comprehensive adoption of blockchain technology and digital assets across global markets.

Photo by lo lo on Unsplash

Read other stories: daura counts on smart contract standard CMTAT for the tokenization of Swiss shares

The Swiss financial industry has successfully traded and settled tokenized investment products