In a bid to structure Cardano’s governance and standardization policies, the Cardano Foundation has announced a team-up with London-based Global Digital Finance [GDF], in an attempt to essentially contribute to the market standards for digital asset and finance participants.
In an official blog post, the Cardano Foundation revealed the completion of GDF’s comprehensive assessment, that all joining members are required to apply. Following the evaluation, the Cardano Foundation would become a member of the GDF Working Association, which includes dealings with custody, KYC/AML/CTF, stablecoins, security token, market integrity, and tax treatments.
According to the official announcement,
“The collaboration between the Cardano Foundation and GDF will strengthen ongoing efforts to create best practices and sound governance policies. Effective policies will help the crypto asset market further develop through establishing robust codes of conduct for the sector amid increasing importance of ethics in blockchain and DLT industry.”
Cardano, the third generation blockchain, has recorded significant technical developments over the year, despite its in-house token ADA failing to breach major heights. At press time, ADA held a market cap of $2 billion and was valued at $0.07. With respect to technology and adoption, Cardano scored an overall grade of B+ and stood just below Ethereum on Weiss Ratings’ ladder.
The UK-based industry organization is focused on developing a code of conduct and general principles for token sales, platforms, and funds that deal with cryptocurrencies and digital tokens. Post partnership, Cardano, like any other member of the organization, would have to abide by the set standards.