Blockchain Industry Policy Advocacy Group Jointly Establishes Global Blockchain Forum

Rage Comment : According to recent policy trends in Asia, Europe and the United States, governments around the world are eager to formulate blockchain-related regulations. In this way, the Global Policy Advocacy Group for studying national blockchain policies and systems came into being. Perianne Boring, president of the US Digital Commerce Chamber of Commerce, said that the group's goal is to promote exchanges between shareholders; promote the formulation of national policies and systems for continuous digital currency and blockchain technology; and develop policies through research. It is mainly to standardize and unify the policies and systems of various countries on Bitcoin and blockchain technology.

Translation: Nicole

A group of interest groups focused on bitcoin, blockchain and digital asset businesses have formed a new business forum to explore how countries can formulate policies related to blockchain.

Global Blockchain Forum, whose group supporters include the US-based Chamber of Digital Commerce, the Australian Digital Currency & Commerce Association (ADCCA), the UK Digital Currency Association (UKDCA) and the Singapore-based Association of Digital Currency Enterprises and Startups (ACCESS).

The group said its goal is to become an "international industry best practice" to drive global innovation.

Perianne Boring, president of the Chamber of Digital Trade, said that this was an effort made after communication among multiple shareholders, all of whom were very concerned about national policies related to blockchain.

Boring told CoinDesk:

“We decided that now is the best time for us to participate in the standardization process and to create such a platform during this period. We also welcome other relevant organizations to join us and work together.”

The group comes as a look at recent policies in Asia, Europe and the United States shows that governments around the world are still struggling to establish regulations around the technology.

Boring said the group’s goals are to facilitate communication among stakeholders; promote the development of a national policy regime for ongoing digital currencies and blockchain technology; and conduct policy development through research.

Boring explained:

“There is no consensus among the countries that want to regulate Bitcoin and blockchain technology.”

For example, she revealed that the Anti-Money Laundering (AML), Know Your Customer (KYC) and Bank Secrecy Act (BSA) laws in different regions around the world are different, which invisibly increases industry costs.

Boring said the group will seek opportunities to engage in dialogue with regulators, which is part of the group's goal of influencing national policy making.