The virtual commodity association is a non-profit organization of cryptocurrency exchanges and custodians with an aim to build an SRO for the U.S. virtual currency industry.
What Is a Virtual Commodity Association (VCA)?
The virtual commodity association is a non-profit organization of cryptocurrency exchanges and custodians with an aim to build a self-regulatory organization (SRO) for the U.S. virtual currency industry. It was formed in 2018 with the purpose of developing an industry-sponsored, self-regulatory body for the virtual currency business in the United States, primarily virtual commodities marketplaces.
The initial participants in the VCA Working Group include Bitstamp, Inc., bitFlyer USA, Inc., Bittrex, Inc., and Gemini Trust Company, LLC. Its functions do not include the provision of regulatory programs for security tokens or security token platforms.
The Governance of the VCA
VCA is run by a board of directors and supported by its members. The board’s principal job will be to enable the VCA’s aims and mission, which may include issuing reports on its standards.