The Electronic Transactions Association (ETA) today released its “5 Guiding Principles for Crypto,” which should guide policymakers’ consideration of any new laws and regulations for cryptoassets.
As the trade association that represents the breadth of the payments industry, ETA has deep expertise in payments technology, including the use of cryptocurrencies, blockchain, and other crypto-related technologies to facilitate payment transactions (cryptoassets).
“At ETA, we are engaged in ongoing conversations within the industry and with policymakers about the promise and challenges of cryptoassets,” said ETA CEO Jodie Kelley. “The proliferation of cryptoassets has prompted repeated calls for regulation, and our ‘5 Guiding Principles for Crypto’ provides a common set of principles against which any proposed governmental policies should be measured.”
As policymakers consider new laws and regulations for cryptoassets, ETA believes they should carefully consider the following five principles:
- Properly Defining Cryptoassets
- Tailoring Regulations to the Risk Profile of the Participant/Activity
- Ensuring Consumer Protection
- Harmonizing With Existing Regulatory Frameworks
- Encouraging Responsible Innovation
Download ETA’s “5 Guiding Principles for Crypto” here.