Introducing The Association for Digital Asset Markets (ADAM)

The Association for Digital Asset Markets (ADAM), led by a group of financial firms – BTIG, Cumberland, Genesis Global, Hudson Rive, GSR, Galaxy Digital, Paxos, BitOoda, Symbiont and XBTO – vows to advance a just and orderly digital asset market

If the potential of digital assets is to be realized, rules must be clarified, compliance must be monitored, and enforcement mechanisms must be built to protect investors and consumers while encouraging the responsible development of digital asset markets.

Association for Digital Asset Markets

The cryptocurrency and digital asset market as a whole is experiencing the disadvantages of a lack of regulation that fits perfectly with its nature. There are no clear rules or standards that preside over the industry.

Confusion and fraud are some of the aftereffects of this deficiency of rules. This dissuades institutional investors from engaging with the nascent marketplace. It is also said to hold back the benefits that come from its promising fundamental technology.

ADAM

In the 18th century when there was a lack of governmental parameters that guide the market, stock brokers of that time took the route of self-governance by facilitating their very own policies to regulate the market and its participants.

In today’s industry, ADAM seeks to advance a fair digital asset market by pledging to safeguard all participants from market manipulation and fraud, administer well-defined standards for market activities, push for ethical conduct, and heighten information transparency for the public and governments.

ADAM was created for the sake of digital asset participants where all can conduct trade and business with the assurance of safety and fairness.

The association has bases in the cities of Washington and New York.

Code of Conduct

In all cases, ADAM’s Code will strive to be consistent with, and a complement to, existing law. Its immediate impact will be to help fill the void where no clear regulation exists for digital asset markets.

Association for Digital Asset Markets

The guidelines for establishing a set of rules that govern the overall market and its participants is termed as the ADAM Code of Conduct. The specifics of the Code require conditions to be met. These are:

  • The Code must take shape within the structure of existing laws. It must provide clarity, without violating the law.
  • It is crucial to use blockchain to incorporate compliance functions into the code, without any obstruction.
  • The intercontinental characteristic of digital assets must be taken into account.

It is necessary for the Code of Conduct to cover all products and services within the digital asset market. It will also include rules for KYC and anti-money laundering (AML), risk management, data protection, and market integrity.

Governance

The ADAM Advisory Board consists of lawyers, academics, regulators, and industry professionals who are accomplished within their field.

Members of ADAM will vote for a Board of Directors who will approve the association’s activities.

The founding members of the association include BTIG, Cumberland, Galaxy Digital, GSR, Paxos, and Symbiont.

Other Associations Relevant to Blockchain and Cryptocurrencies

Various crypto-related companies have formed different groups all for advancing the technology.

Some of the groups are Blockchain Association, a DC lobbying group, spearheaded by companies such as Coinbase and Circle and the Japan Virtual Currency Exchange Association (JVCEA), formed in April 2018, comprised of 16 domestic licensed exchanges. It was granted self-regulatory capacity by Japan’s Financial Services Agency.

Related news

Latin America’s Biggest Investment Bank Partners Gemini to Launch Its Own Security Token

CoinSpeaker Latin America’s Biggest Investment Bank Partners Gemini to Launch Its Own Security Token Today more and more traditional banking institutions are entering the crypto world with a view to satisfy the growing market demand for new services and offerings. As it has been revealed the major investment bank in Latin America called Banco BTG Pactual SA also has taken a decision to join the industry and to launch its own blockchain-based security token via a STO which is viewed as a version of an ICO but a more regulated one. In its STO the bank expects to raise $15 million. What Is Known about New Token According to the announcement made by the bank, its security token will be known as ReitBZ and it is said to be backed by the bank and distressed real estate assets in Brazil. With the help of ReitBZ, the bank is planning to provide international investors with an opportunity to get access to the country’s real estate market paying less that it is presupposed by traditional means of investments. To carry out its project the bank has entered in a partnership with Gemini, the company established by Cameron and Tyler Winklevoss. Those investors, who want to purchase the token, will need to do it via a digital platform. It will be allowed to pay for the token using Gemini Dollar, which is a stablecoin pegged to the U.S. dollar, or Ethereum,  one of the major ctyptocurrencies in the world by the market cap. It is known that investors will get dividends from the recovery of the distressed assets that the token is backed by and this procedure will be handled by Enforce operated by BTG. According to the statement, investors from all over the world, except of Brazil and U.S. at first, will get a chance to become holders of the new token. Market-making services for the token will be provided by the bank. Gustavo Roxo, BTG’s chief technology officer, commented their new initiative the following way: “BTG is deploying its own capital to provide liquidity because it really believes in the crypto business. We came up with this structure because we think investors in the digital world have a higher risk-taking appetite.” Tyler Winklevoss, Gemini CEO, also made his comments: “The tokenization of real assets is a major step forward in the evolution of the crypto economy. … Working with BTG Pactual to leverage the Gemini dollar as the stablecoin for ReitBZ helps move the industry in the right direction.” The initial offering period for the perpetual ReitBZ token is planned to last for approximately 90 days. And the bank will allocate its raised funds to reinvest the distressed portfolio. Banks’ Digital Coins As we have already mentioned, BTG is not the first bank to develop its own digital assets. Though the situation on the crypto market still doesn’t look very optimistic, last week JPMorgan Chase & Co. introduced its prototype digital coin.  It is said that the coin will help to increase the speed of transactions between corporate customers. *Our comprehensive guide will help you to understand the notion of STO, its aims and working principles. To find out the information about  the latest Security Token Offerings (STOs) follow the link to check Coinspeaker’s STO Calendar Latin America’s Biggest Investment Bank Partners Gemini to Launch Its Own Security Token
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Doubly Partners with an Insurer to Secure its Trades

London, United Kingdom, February 22, 2019. – Doubly, a crypto trading company the makes the most of the innovations of Artificial Intelligence (AI) has announced a partnership with a financial services insurer. The deal between the trading platform and Financial Global Insurance Solution Limited (FGI) seeks to help provide the platform’s investors with an easy exit without necessarily hurting Doubly’s trades. The arrangement between Doubly and the insurer will enhance the liquidity of the system. It gives the platform’s investors a chance to pull out their investment at any time while protecting Doubly from the market turbulence. Doubly, which was formed in 2016, applies AI to undertake trades using various signals for many sources. This new deal, as such, gives users a more natural way of opting out while protecting the system as well as those the customers that remain from the effects of disrupted cash flows. The Doubly – FGI Deal FGI is a renowned provider of insurance products and services mainly to players in the financial industry. With its broad reach, it protects these firms from the market shocks and also covers their clients from loss occasioned by a myriad of market-related reasons. In certain instances, it also covers the activities of its clients. FGI conducted a thorough inquest into the operations of Doubly before penning the deal in question. The insurer undertakes such inquiries as a standard operations procedure to ensure that only the deserving firms procure its products and services. The insurer studied the trading platform’s success rate as well as other critical aspects such as daily trade volumes, expenses, and liquidity. The study culminated with a deal that best meets the needs of Doubly and its customers. Overall, the partnership will help Doubly to provide its products in a safer environment. The Insurance Deal in Detail The deal entered into between Doubly and FGI is a get-out-smooth kind of arrangement that will allow Doubly investors to pull out their investments at any time without affecting the operations of the trading platform. In a nutshell, Doubly customers from now henceforth shall, if they want, liquidate their investment and pay back based on the stipulated terms of the agreement, and earn their invested amount. This deal makes life easy for Doubly investors because it implies that whatever money they invest on the platform is always available to them. Where a customer chooses such a path, FGI shall provide funds to cover the gap that release of the client’s investment left gapping. However, the convenience of this arrangement shall set back the customers between 20 and 30% of their investments depending on the Doubly package they bought. As part of the package, FGI shall provide up to US$ 39 million monthly to underwrite such pull-out deals. The Doubly platform has finalized the necessary adjustments that will allow its customers to seek a release right from the convenience of the platform. Doubly has gone ahead and secured even more cover from the same insurer. Along with the insurance that gives clients a money-back guarantee, Doubly will get a cover for its trades. Though Doubly affords very impressive margins, it has bargained for this cover to help it prepare for worst-case scenarios. With the US$ 15 million cover on every trade session, Doubly now ensures that its customers do not bear the brunt of the devastating effects of a bad day. Aside from fending off the effects of unforeseen calamities, the latter deal will also ensure that Doubly’s liquidity remains constant at all times. FGI, on its part, will take home a portion of every successful trade made by the Doubly system. How Doubly Rewards its Investors Over the past two years that the Doubly system has been operational, its bot has gotten better with every trade. The said bot analyses and executes trades that leave it with profit margins of between 6 and 10%. The platform has a smart and polished, self-learning engine that relies on the advances of AI to execute highly profitable trades. Moreover, it can actualize these trades far faster than a person would. The Doubly system has an internal ranking system which is instrumental in evaluating the profitability of every trade the bot undertakes. Aside from the mentioned evaluation role, this ranking system helps the bot improve the outcome of its future trades. The bot factors in data from various sources as well as the results of each trade it executes. It then uses these to develop a signals-reading pattern that betters every transaction. For the bot to trade, it collates data from the ranking system and interprets these into signals. Whenever the signs on a particular cryptocurrency are adequate, then the bot decides to either buy or sell the said cryptocurrency. More information about Doubly is available on the website. Contact person: Richard Greene – CEO, Doubly richard.greene@doubly.io This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research. The post Doubly Partners with an Insurer to Secure its Trades appeared first on NullTX.
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