Last August, Gemini announced its participation in the The VCA’s goal is to establish itself as an industry-sponsored, self-regulatory organization (SRO) for the U.S. virtual currency industry, specifically virtual commodity marketplaces. This designation will allow the VCA to operate similarly to SROs in other industries, most notably the traditional financial industry, where the Financial Industry Regulatory Authority (FINRA) and National Futures Association (NFA) have self-regulatory authority over financial institutions.One of the first steps in this process is to create a framework which will eventually form sensible regulation for virtual commodity marketplaces. To do so, the VCA has launched six key committees that will help set standards, sound practices, and oversight.The VCA will also be governed by a Several regulatory agencies have called upon the cryptocurrency industry to provide better oversight and surveillance of cryptocurrency markets. Through these committees, which will be led by financial and crypto industry subject matter experts, the VCA will adopt best practices and standards commonplace in traditional financial markets for cryptocurrency exchanges and custodians.The six committees and leads include:We still have a long way to go but I am happy with where we are headed. The VCA is grateful to the individuals and companies willing to commit their time towards these committees and advance the goals of the VCA in fostering consumer protection and market integrity for the virtual currency industry.I’m personally grateful to work for a company that takes matters like security, regulation, and consumer protections so seriously. To learn more about the VCA, please visit: Onward and Upward,Yusuf Hussain, Head of RiskWritten by