A collection of interest groups focused on bitcoin, blockchain and digital asset-related issues has created a new business forum in a bid to shape how public policy relating to the technology is formed.
Dubbed the Global Blockchain Forum, the group’s supporters include the US-based Chamber of Digital Commerce , the Australian Digital Currency & Commerce Association ( ADCCA ), the UK Digital Currency Association ( UKDCA ), and the Association of Crypto-Currency Enterprises and Start-ups ( ACCESS ), headquartered in Singapore.
The group said that it aims to establish "international industry best practices" to encourage global innovation.
Perianne Boring, president of the Chamber of Digital Commerce, said that the effort grew out of organic communication between the various stakeholders that focused largely on public policy advocacy.
Boring told CoinDesk: "We decided that the time was ripe to formalize our engagement to create a this platform and welcome other related organizations to coordinate efforts as well." The group’s formation comes as governments worldwide continue to move toward establishing regulatory stances on the technology, with recent policy updates observed in Asia , Europe and the US .
According to Boring, the group will aim to promote communication between its stakeholders; push for “consistent” public policy approaches to digital currency and blockchain regulation; and conduct research to support the development of such policy.
"There is next no consistency among the various countries looking to regulate bitcoin and blockchain tech," Boring explained.
For example, she indicated that anti-money laundering (AML), know-your-customer (KYC) and Bank Secrecy Act (BSA) laws differ globally, forcing added costs on industry businesses.Boring said that the group will also seek dialogue with applicable regulatory bodies as part of its goal of influencing public policy outcomes. Image via Shutterstock
