March 7th, 2019, The Financial Commission today announces the first meeting of the Blockchain Expert Committee (BEC), which took place on March 5th at the offices of Etheralabs in New York City.
At the meeting, chaired by the head of the BEC, Steven Hatzakis, five members including Financial Commission’s COO Nikolai Isayev, reviewed examples of disputes submitted by digital commodity investors to the BEC in an effort to improve, expand and promote the free service to a worldwide community of digital investors. The Committee also discussed the regulatory themes concerning standards and best practices for the Blockchain industry provided in recent publications such FAFTA Guidance for Digital Assets providers, the ULC’s Model Act for Digital Currencies, and ISO Standards for blockchain and cybersecurity that are currently in development.
Following a review and discussions of related themes during the meeting, the BEC members who were present suggested a number of changes to the service in order to make meaningful improvements for digital investors and Blockchain member firms alike. The Committee expects the changes to be approved by the Board of Directors of BEC’s parent organization, the Financial Commission, and to be implemented in the coming weeks.
Blockchain Expert Committee
Financial Commission’s Blockchain Expert Committee is comprised of digital asset industry experts, as well as legal and compliance professionals who are committed to advancing self-regulatory efforts for the digital currency trading community and finding solutions to common issues arising from the physical exchange of digital currencies by customers, storage of digital assets on the Blockchain.
The BEC is an integral part of the newly formed Blockchain Association which aims to unite cryptocurrency exchanges and financial firms transacting on blockchain that are committed to upholding the highest standards of commercial honor and best business practices. In joining the professional community companies and individuals have the unique opportunity to consult with industry experts, legal and compliance professionals and fellow association members about regional regulations and compliance in key global markets where digital currencies are in very high demand.
About Financial Commission
Founded in 2013, the Financial Commission is a leading independent member-driven external dispute resolution (EDR) organization for international online brokerages that participate in global foreign exchange (forex), derivatives, and CFD markets.
Financial Commission provides efficient compliance solutions to its members, alongside its External Dispute Resolution (EDR) mechanism that serves as an effective channel for processing complaints from clients of member firms.
To find out how the Commission is expanding efforts into self-regulation and transparency for the digital currencies and Blockchain markets, please visit the Blockchain Association page of our website.