Crypto.com, a cryptocurrency exchange registered in Hong Kong is now a member of the International Digital Asset Exchange Association (IDAXA). As per an official announcement made today on the 17th of November, the pioneering crypto trading exchange has joined the IDAXA organization in a bid to push further the adoption of cryptocurrency across the whole world.
The International Digital Asset Exchange Association organization focuses on setting up standards for the cryptocurrency industry and also provides its assistance for promoting new proposed regulations’ implementation. Crypto.com will now be working as a part of the IDAXA organization in shaping the regulatory structure of the cryptocurrency industry.
It has always been the mission of the Hong Kong-registered digital asset exchange to make efforts for strengthening digital currencies’ mainstream adoption. And that is the reason that it has joined IDAXA. By working under this organization, Crypto.com has got an opportunity to boost its efforts further on its goal and help cryptocurrencies achieve worldwide adoption.
IDAXA brings together both the digital currency industry and the global blockchain on one page so that they might be able to get involved with law enforcement agencies, regulatory watchdogs, and other legislative bodies, said Antonio Alvarez, the Chief Compliance Officer (CCO) at Crypto.com. He said that their admission into the IDAXA organization shows how much they are committed to fulfilling their mission of boosting the transition of the world towards the digital currency sector. Adding more to it, he said that they will now be taking part “in the development of regulations and global industry standards, such as compliance with FATF Recommendation 16.”
Commenting on this, the Chairman of IDAXA Anson Zeall welcomed Crypto.com and said that they are pleased to have it in their organization as a Corporate member. He said, “we look forward to collaborating with the goal of fostering better standards and championing financial transparency. This will give the crypto industry greater legitimacy while enhancing its reputation in the eyes of regulators and the public alike.”
Founded in Osaka Japan last year, IDAXA has several members including Switzerland Crypto Valley Association, Singapore Cryptocurrency and Blockchain Industry Association, Hong Kong Blockchain Association, and Blockchain Australia. Crypto.com along with these members of IDAXA is going to attend next week the V20 Summit in Saudi Arabia.Cryp