On November 27, ten industry-leading financial services and technology firms launched the Association for Digital Asset Markets (ADAM) to establish a Code of Conduct (“Code”) for emerging digital asset markets.

ADAM will be the first broad-based organization of its kind in the United States to proactively seek comprehensive standards for digital asset market participants.

ADAM will work with current and former regulators to provide rules for the efficient trading, custody, clearing and settlement of digital assets. Future guidelines will encourage professionalism and ethical conduct by all market participants; increase transparency by providing information to regulators and the public; and deter market manipulation. The Code of Conduct will complement all existing law and regulation.

“ADAM intends to earn the long-term trust of financial regulators and policymakers”, – reads the press release.

Duncan Niederauer, former Chief Executive Officer of the New York Stock Exchange and ADAM Advisory Board Member, said:

“Rules are fundamental to the development of any market. Over 200 years ago, market leaders came together to draft rules that led to the creation of the New York Stock Exchange. The advent of digital assets requires a similar effort; one that will clarify existing rules and give both investors and regulators the confidence necessary to sustain this market.”

According to the press release, ADAM’s Code of Conduct will include guidelines for market integrity, risk management, KYC and AML, custody, record keeping, clearing and settlement, market manipulation, data protection, and research, among other topics.

The founding members of ADAM include the following companies: BitOoda, BTIG, Cumberland, Galaxy Digital, Genesis Global Trading, GSR, Hudson River Trading, Paxos, Symbiont, and XBTO.

ADAM plans to add new members and will announce its officers in the coming months. It will maintain offices in New York and Washington.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

148 +