GSR is proud to be one of the founding members of the Association for Digital Asset Markets (ADAM) because we believe trust and fairness are essential for the healthy development and evolution of the global digital assets industry. Establishing global and institutional standards and practices are equally critical for cryptocurrencies and related products to be accepted as legitimate investments and components of a portfolio strategy.
To that end, GSR played an integral role in helping to shape the code of conduct released today by the Association of Digital Asset Markets (ADAM).
Crypto has come a long way since GSR first entered the market in 2013. Over our history of trading digital assets, there has been a dramatic improvement in the market infrastructure, project development and quality of related financial services important to our community. Each year we have seen fast-paced innovation coupled with a slow but steady progression toward institutional adoption.
In the last 24 months, our industry has seen a massive shift in the attitudes and enthusiasm for digital asset technology from the traditional financial community, global technology industry, and governments. The biggest tech and financial players in the world are now entering the blockchain space for both investment and financial infrastructure purposes. As we reach the end of 2019, it has become clear that crypto is undoubtedly here to stay, and has never been better positioned to fulfil its potential of becoming an accepted global asset class.
It is equally important that established companies in the digital asset ecosystem use their experience and expertise to outline best practice and ensure a level playing field is created and maintained for those considering entering the industry.
“With our extensive experience in traditional and digital asset markets, we understand the importance of transparency and integrity needed to propel this emerging industry forward. This was our ambition in forming ADAM, joining other market participants who have the same vision for digital assets. This code of conduct is the next step in making trust and fairness a hallmark of the cryptocurrency markets. It supports our efforts to continually transform how participants trade, access liquidity and manage risk.” Rich Rosenblum, Co-Founder, GSR.
Since its inception, ADAM has worked in partnership with leading financial firms and regulatory experts to devise a code of conduct for crypto markets. The Code we released today is intended to inform market participants on best practices and to complement, not replace, existing regulation. This is part of a long-term effort to promote professionalism and ethical conduct by all digital asset market participants.
The ADAM Code is broken down into sections covering the following key thematic areas:
○ Compliance and Risk Management
○ Market Ethics
○ Conflicts of Interest
○ Transparency and Fairness
○ Market Integrity
○ Custody
○ Information Security and Business Continuity
○ Anti-Money Laundering and Countering the Finance of Terrorism
Read more about the code of conduct here.
Read the press release here.