A company out of Switzerland known as the Crypto Valley Association has continued to advocate for the launch of framework for cryptocurrency based assets.
The CVA released a statement earlier in the week stating that “a common understanding of the underlying nature of different kinds of cryptographic tokens would allow policymakers to construct thoughtful and enforceable legal and regulatory frameworks. Moreover, an agreed-upon framework could also provide investors and issuers with standard tools to evaluate, mitigate, and communicate risks in token design and launches.”
The CVA also released a statement that they would be sending an initial coin offering or ICO code of conduct, to help positively integrate the technology into the financial system they have in place.
The president of the association was quoted saying that the “The issue of the legal and regulatory status of cryptocurrencies is currently the most pressing concern in our community. Crypto Valley Association has called on regulators to devise clear, comprehensive, and flexible regulation on tokenized assets that protects investors but also supports innovation.”
The framework that they are attempting to put in place will hopefully cover all sorts of holes in the current system, and provide a solid backbone for the development and growth of the cryptocurrency industry.
The president further added that “We believe that MME’s BCP concept (digital information containing elements of a property right) is an important contribution to this debate. It can be of immense use to both regulators seeking to understand cryptocurrencies and investors looking to evaluate their risks.”
The use of cryptocurrency in the modern day has shown that there is a strong need for digital currency. With the ever growing want for anonymity and digitized assets, it seems like the market on cryptocurrency is not slowing down anytime soon.