GDF Response to FSRA Consultation Paper on Proposed Amendments to the Digital Assets Regulatory Framework
The GDF MEA Working Group responded to the FSRA Consultation Paper on Proposed Amendments to the Digital Assets Regulatory Framework.
The input to this response was been curated through a series of member discussions and industry engagement. Through this process GDF members identified key areas that we believe the FSRA should consider as they move forward to develop a regulatory regime for digital assets The core areas identified were:
1. We welcome the introduction of self-assessment for approval of virtual assets (VAs), and would support additional clarifying guidance as well;
2. We believe that allowing custodians to hold any VAs (not only approved VAs) would encourage overall ecosystem growth as well as that of the custodial industry; and
3. We would urge further consideration of the treatment of foreign fiat referenced tokens (FRTs) and encourage the FSRA to enable the same self-assessment requirements for foreign FRTs as they do for VAs.
Read the Response