Ten financial and tech companies have come together to establish an Association for Digital Asset Markets or ‘ADAM.’ The groups aim is to create a “code of conduct” for the cryptocurrency sector.
ADAM is a Good Boy
The body is made up of well-known crypto names. These include Galaxy Digital, BTIG, Paxos—which recently launched the PAX stablecoin—and crypto liquidity solutions provider GSR.
Looking to get on the good side of regulators, and no doubt put more of a definite shape on the cryptocurrency market, the group will work with regulators to seek “comprehensive standards” for market participants.
These standards will apply to all areas of the industry from trading, custody, clearing, and settlement and will be the framework for “ethical conduct” and “professionalism.”