Several firms have banded together to create a self-regulatory organisation covering the nascent virtual currency industry. The Digital Asset Transfer Authority (Data) says it wants to promote the prudent, responsible development of emerging payment networks,
establish common rules to protect users, and work as a liaison among businesses, customers and public officials.
Founding members of the committee include the CEOs of BitInstant, BitPay, Coinsetter, CoinX, Epiphyte, eToro, Hub Culture (Ven), OpenCoin, Payward, QikCoin, SnapSwap, Tradehill, Yoyocard and ZipZap. Stan Stalnaker, founding director of Hub Culture discusses the need for self-regulation.
© Finextra Research 2017