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Associations in Cryptocurrency Sector and their responsibility


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Associations in the Cryptocurrency Sector; Typically, there are various associations in every industry, sector, and profession these associations serve various reasons coupled with different ideologies. Irrespective of their diverse ideology, structure, and reason for establishment these associations certainly share something in common. They exist to protect and promote the interest of their members while remaining in line with emerging innovations.

The cryptocurrency and blockchain technology sector isn’t left behind as there are various associations within it. Associations in Cryptocurrency are numerous as they cover the NFT, Blockchain, Exchanges, Artists, and other notable stakeholders in the industry. Just like every other association, this group in crypto aims to protect investors, developers, and exchange platforms. At the same time work in line with regulatory bodies to avoid legal issues.

Leading international associations in cryptocurrency

Blockchain Association:

Founded in 2018 by Josh Mendelsohn, the Blockchain Association is a Non-Profit set-up that comprises big wigs in the cryptocurrency sphere. With its headquarters in Washington, D.C Metro Area, the association aims to advocate for favourable laws in the United States. Blockchain association believes that a favourable atmosphere in the U.S for cryptocurrency will influence the same globally.

Also, the group views poor regulation as a strong factor against the globalization of the industry. Therefore, the association aims to establish a relationship between regulators and the industry for favorable regulations. Overall, the purpose of the group is to advocate for favourable regulation in other to protect the industry. Members of this association include projects building blockchain networks, Exchange platforms, Investment companies, and individuals.

International Association For Trusted Blockchain Association:

Unlike the Blockchain association, the International Association for Trusted Blockchain Association doesn’t limit its functions to favorable regulations. Nevertheless, the group still offers developers and users to communicate with regulators for the advancement of the industry. Launched in 2001, the association has 170 members across 32 countries in the world. With an impressive score of Governmental and Academic Advisory Bodies.

Additionally, the association aims to usher innovations in the sphere by organizing various lectures, seminars, and other programs. The activities of the INATBA cut across various disciplines, professions and sectors. The group promotes the adoption of blockchain in areas like law, education, and finance.

Crypto Valley

Founded in 2017 by Johann Gevers Crypto Valley is a self-sufficient association with government backing. Located in Switzerland, the association aims to maximize the country’s strength to initiate innovations in the industry. Through that, Crypto valley is one of the associations in the cryptocurrency sphere that supports emerging and established organizations. One distinctive attribute of this association is that it connects to hubs and firms that are crypto-oriented. With that, members of the association enjoy a vast community relation that aid connection among them. At intervals, Crypto Valley organizes various events that help members connect, engage and broaden their horizons.

However, the association enjoys support from the Swiss Federal Government, the Bitcoin Association of Switzerland, Ethereum, Bitcoin Suisse, and many others. Through this, the Association has been able to carry out numerous programs, projects, and other initiatives to move the industry forward.

Other notable associations

American Blockchain and Cryptocurrency Association

The American Blockchain and Cryptocurrency association emerges as the first on the list to include Miners in its jurisdictions. The ABCA is based in Washington, D.C and it’s a non-profit organization that aims to promote cryptocurrency globally. The association strongly advocates for a good atmosphere for Miners, Investors, Academics, Entrepreneurs, and other companies that strive in the crypto sphere.

In addition, the ABCA consults investors, financial institutions, regulators, and technology firms to move the industry forward. This consultation includes seminars, outreach, research, and as well as advocation. The American Blockchain and Cryptocurrency Association also cares about innovations that’ll aid a good marketplace and good delivery of services.

Global DCA

The Global DCA is a self-regulatory association basically for virtual assets and the cryptocurrency sphere. The association champions the mantra of building trust, and integrity, and maximizing opportunity for its members. With the view of protecting the development of cryptocurrency, blockchain, and other virtual assets amidst regulation.

Lastly, the Membership of this association comprises trading platforms, traders, investors, asset managers, financial institutions, and other stakeholders. Global DCA provides education and leadership training, and advocates for regulations that protect investors, stakeholders, and the industry at large.

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Olaleye Komolafe
Olaleye Komolafe
Olaleye is a professional reporter with vast experience in web3, cryptocurrencies, and NFT journalism. He enjoys writing about the evolving metaverse sphere and the prevalence in the crypto sphere. Notably, some of his contents have been published in numerous international publications. Away from the crypto world, Olaleye is a political scientist and a lover of football

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