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Global DCA Introduces Subcommittee To Propose Disclosure Framework For Crypto

Regulation United States

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Hongji Feng

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Hongji Feng

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Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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Last updated:

June 26, 2024

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The Global Digital Asset and Cryptocurrency Association (DCA) has established a new steering subcommittee to develop a disclosure framework for digital assets.

According to a recent press release, the subcommittee is organized in collaboration with the Global Blockchain Business Council, The Digital Chamber, and The Proof of Stake Alliance, bringing together scholars and legal professionals to propose comprehensive disclosure guidelines.

Subcommittee of Industry Leaders and Scholars

The Steering Committee is made up of leading law and finance scholars and U.S. attorneys specializing in blockchain, digital assets, and web3. Formed independently of industry stakeholders, the committee aims to deliver an objective and impartial disclosure proposal.

It comprises prominent figures in the industry, including Chris Brummer, Professor of Law at Georgetown University, and Lewis R. Cohen, Partner at Cahill Gordon & Reindel LLP.

Additional key members are Patrick Daugherty, Partner and Head of Digital Assets Practice at Foley & Lardner LLP, and Daniel Davis, Partner and Co-Chair of Financial Markets Regulation at Katten Muchin Rosenman LLP.

“Investors, and responsible entrepreneurs, thrive most when there are clear, fit-for-purpose guidelines with which companies can communicate with their stakeholders,” stated Brummer.

“This superbly talented group is part of a larger research effort moving the conversation–and policy–towards that goal,” said Brummer.

Global DCA to Advance Digital Asset Framework

Renata Szkoda, Chair of the Global DCA, emphasized the crucial need for a disclosure framework for digital asset tokens in the U.S. She highlighted that this initiative would fortify the emerging industry, helping it become a more significant player in the global financial system.

Szkoda also noted that the proposed framework is intended to provide clear guidelines for companies, thereby enhancing transparency and investor confidence in the digital asset market.

“This is why I am so excited to announce such a strong engagement and industry collaboration on this effort bringing together the brightest minds and veteran experts in our capital markets and the financial system to propose disclosure guidelines for digital asset tokens,” said Szkoda.