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Cryptocurrencies

Australian Association launches self-regulatory scheme on digital currency

Friday 2 December 2016 | 01:40 PM CET

The Australian Digital Currency & Commerce Association (ADCCA) has launched a self-regulatory scheme called Australian Digital Currency Industry Code of Conduct.

The Code of Conduct aims to ensure that consumers are protected. It will enable Australian consumers to identify digital currency businesses that have best practice standards for consumer protection in place.

The ADCCA certified digital currency businesses will be listed on the ADCCA website and must prove to independent assessors that they meet the rigorous standards for certification.

The Australian Government recently announced its intention to extend Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) rules to new sectors including the digital currency sector. According to the official announcement, the Code of Conduct voluntarily adopts AML/CTF standards.

More: Link
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