Industry Advocacy Groups Unite to Launch Global Blockchain Forum

Global interest groups focused on bitcoin, blockchain and digital asset-related issues have come together to create a new business forum.

AccessTimeIconApr 12, 2016 at 4:30 a.m. UTC
Updated Sep 11, 2021 at 12:13 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.