Digital Asset Trade Association Formed With Offices In DC and Wyoming – Report

Blockchain, News, Regulation | March 10, 2018 By:

A group of entrepreneurs has started the Digital Asset Trade Association, to be known by the acronym DATA. The group will be a lobbying and self-regulating body for the digital currency industry, according to the Wall Street Journal.

The group plans to open offices in Washington and Cheyenne, Wyoming. The latter has made a big move to change state laws to make any token issued through a domiciled entity in the state declared a utility token rather than a security token. By doing so, Wyoming hopes to become the hub of blockchain development in the US, luring companies from pricier locations like the San Francisco Bay Area.

The WSJ quoted Alanna Gombert, an executive with ad-tech startup MetaX and a member of the DATA steering committee as stating the new trade association will set standards and educate regulators.

“Speaking in one voice to preserve this infrastructure only strengthens decentralization.”