Token Standards Working Group
Token offerings should be an extremely efficient, transparent and high-governance mechanism to raise funds for blockchain based projects. Sadly, naïve and sometimes even intentionally fraudulent activity by the proponents of some token offerings have not only resulted in consumer harm but have also distracted industry and regulatory attention from the enormous potential for token offerings to drive innovation across the economy.
ADCA is committed to supporting the development of a dynamic, innovative and well-regulated token sector in Australia while ensuring that consumer interests are protected.
ADCA’s Token Standards Working Group aims to achieve this goal by:
- development of the Australian Digital Token Industry Standards establishing best-practice benchmarks for governance and disclosure for token projects in Australia;
- liaison with key regulators, including ASIC, to ensure that token proponents are aware of their legal obligations;
- identification and prioritisation of any policy gaps, conflicts and opportunities that either hinder or will support the mainstream adoption of digital assets in the wider economy; and,
- support initiatives to educate consumers.