A new industry body, Global Digital Finance (GDF), has been launched to drive a code of conduct for cryptoassets. A not-for-profit industry body, GDF has convened key stakeholders to develop a global code of conduct and a taxonomy for cryptoassets, comprised of leading industry players in the global distributed ledger and cryptoasset space. The Code of Conduct is envisioned to apply to a broad range of cryptoassets, including Bitcoin (BTC) or Ether (ETH), and various types of “tokens” (e.g. Payment token, Asset Tokens and Utility Tokens as described by the recent guidance from the Swiss regulator FINMA).
Simon Taylor, a distributed ledger and cryptocurrency specialist who leads the GDF initiative, says key industry players in the space are keen to demonstrate their collective position on improving standards through a professional code of conduct for the industry, and to develop this in collaboration with global regulators.