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Virtual Commodity Association starts six regulatory committees

The Virtual Commodity Association (VCA)–a consortium of exchanges–today announced the launch of six committees designed to provide standards and regulatory oversight for the crypto industry. 

The six committees, when up and running, will tackle the Bank Secrecy Act and Anti-Money Laundering, custody and security, enforcement, insurance, market integrity, and tax.

“Several regulatory agencies have called upon our industry to provide better oversight and surveillance of cryptocurrency markets,” said Yusuf Hussain, president of the VCA, in a statement. “Today, the VCA has stood up six committees–including one dedicated to market integrity–that will address these concerns, while beginning to create a regulatory framework for virtual commodity marketplaces.”

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