Global Digital Finance Registry
In a rapidly developing industry, a growing list of companies have recognized a need for, not only uniformity in the interpretation of regulations, but accountability as well. To facilitate these goals, a non-profit organization, known as Global Digital Finance Registry, has been formed. This organization operates under the following mission statement:
‘The global formation and distribution of capital has value to both new market entrants and incumbents in financial services. Global Digital Finance endeavours to drive efficient, fair and transparent crypto asset markets by building a knowledge base and best practice for “Truly Digital” finance and the benefits tokens can bring all market participants.’
Simply put, its purpose is to create a community comprised of industry participants, in an effort to foster industry growth in a fair and transparent manner.
Members of the registry are able to indicate their adherence to a variety of code-of-conducts, outlined by the GDF. Tokeny in particular attests to Codes 1,2, and 3.
- Overarching Principles
- Principles for Token Sales
- Principles for Token Platforms
- Principles for Funds and Fund Managers
- Principles for Ratings Websites
The GDF launched in 2018, and maintains headquarters in London, United Kingdom.
The founding members of the Global Digital Finance Registry were announced roughly 6 months ago. These members consisted of the following companies.
- DLA Piper
- Hogan Lovells
To meet the goals of the endeavour, new participants are needed to ensure continued expansion and adoption of the code of conduct. Upon applying for membership, entrants are able to indicate which of the 5 codes-of-conduct they pledge an adherence to.
We reached out to Tokeny for comment on their decision to join this registry, and what benefits it will afford both Tokeny and their clients.
Luc Falempin stated,
“In order for digital securities to succeed it is essential there is a standardised association across global jurisdictions and regulators. By joining the GDF, we are helping drive this digitisation of capital markets by contributing to a community that is helping shape this standardisation of conduct.” He continued, “We are joining a community of policymakers, regulators, bankers and other market participants to encourage and develop best practices in the issuance of digital securities.”
Tokeny had to following to say upon announcing their participation in the GDF. It was stated,
“For digital assets to gain mainstream adoption it’s imperative there is a co-ordinated response across global regulators and jurisdictions. Key to this is standardised terminology. To help encourage this we’ve registered with the Global Digital Finance Code of Conduct, an industry-led initiative driving best practices to enable the digital assets industry to flourish.”
Tokeny is a Luxembourg based company that was founded in 2017. CEO, Luc Falempin, has guided this young company along its path towards transforming digital securities. The Tokeny platform has seen modest levels of adoption in recent months, as they have played host to a variety of STOs. These events have/will see Blockport, VR Bank, and others tokenize and distribute assets.
In Other News
The Global Digital Finance Registry is not the only grouping of companies hoping to secure a bright future for digital securities. In recent months, we have seen the formation of the ‘Millbrook Accord’, and the ‘Digital Securities Alliance’, among others. Here are a couple of articles detailing each of these groups.