Winklevoss bid for cryptocurrency self-regulation gets nod

Morrison & Foerster partner Vladimir Maly agreed with the notion of creating a Virtual Commodity Association in the Global Capital article “Winklevoss bid for cryptocurrency self-regulation gets nod” and advised it could champion the cryptocurrency market in a similar way to the International Swaps and Derivatives Association.

“By helping to foster dialogue, ISDA helped develop the derivatives markets further, even after 2008 in very difficult conditions,” he said. “An SRO with stature comparable to ISDA would really give the market a global status and make it a partner to have discussions with.”

Mr. Maly also cautioned, however, that putting the body together would be difficult due to the fact that the market is “very scattered, with a variety of players with different business and aims.”