ADCCA launches Digital Currency Industry Code of Conduct for Australia

Regulation | December 2, 2016 By:

The Australian Digital Currency & Commerce Association (ADCCA) has launched its Australian Digital Currency Industry Code of Conduct.

The Code of Conduct aims to ensure that consumers are both protected and don’t ‘miss out’. It will enable Australian consumers to easily identify digital currency businesses that have best practice standards for consumer protection in place.

“The self-regulatory model that we have developed gives Australian consumers confidence that they are dealing with a business with standards that they can trust, while implementing AML/CTF safeguards,” said Nicholas Giurietto, CEO of the ADCCA.

According to the terms of the Code of Conduct, ADCCA cryptocurrency businesses will be permitted to include the term “ADCCA Certified” in any description of their enterprise. There is also a defined provisional certification. Members are permitted to use either the ADCCA Certified mark or the ADCCA Provisionally Certified mark, depending upon their status with the association.