Hong Kong, November 17th, 2020 — Crypto.com has become a member of the International Digital Asset Exchange Association (IDAXA). The organization sets industry standards and plays a major role in advancing dialogue regarding proposed regulations. The admission of Crypto.com into IDAXA is indicative of how the cryptocurrency app and exchange platform is committed to this shared goal and mission. Members of IDAXA include Singapore Cryptocurrency and Blockchain Industry Association, Blockchain Australia, Hong Kong Blockchain Association, and Switzerland Crypto Valley Association.
IDAXA rose to prominence at the V20 summit last year in Osaka, Japan where an MoU was signed, with the goal of driving collaboration between regulators and the digital asset industry. Next week, the V20 will meet again in Riyadh, Saudi Arabia, with Crypto.com now ranked among its members. Chief on the agenda will be discussion of the FATF’s Recommendation 16, better known as The Travel Rule, which governs self-declaration of assets for citizens passing through customs.
Crypto.com Chief Compliance Officer Antonio Alvarez said: “Joining IDAXA is yet another example of our commitment to achieve our mission of accelerating the world’s transition to cryptocurrency. IDAXA plays a pivotal role in bringing together the global blockchain and cryptocurrency industry to engage with legislative bodies, agencies and regulators. We look forward to participating in the development of regulations and global industry standards, such as compliance with FATF Recommendation 16.”
“We’re delighted to welcome Crypto.com as a Corporate Member of IDAXA,” said Anson Zeall, Chairman of IDAXA. “Not only are they one of the largest cryptocurrency companies in the world, with a presence in major global markets, but their values are closely aligned with those of our organization. Together, we look forward to collaborating with the goal of fostering better standards and championing financial transparency. This will give the crypto industry greater legitimacy while enhancing its reputation in the eyes of regulators and the public alike.”
Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. Crypto.com serves over 5 million customers today, providing them with a powerful alternative to traditional financial services through the Crypto.com App, the Crypto.com Visa Card, the Crypto.com Exchange and Crypto.com DeFi Wallet. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks. Crypto.com is headquartered in Hong Kong with a 600+ strong team. Find out more by visiting crypto.com.
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IDAXA represents the global interests of industry, trade associations and Virtual Asset Service Providers (VASPs). Its founding partners favor a unified approach in response to the Financial Action Task Force (FATF) guidelines surrounding AML and KYC compliance for virtual asset transactions. IDAXA was established during the V20 summit in Osaka, Japan, a two-day industry summit for the world’s leading Virtual Asset Service Providers (VASPs).