Press Release

uring its recently concluded Annual General Meeting, the International Digital Exchange Association (IDAXA) revamped its leadership structure by electing new co-chairs from Australia and South Korea, while retaining its vice-chair from the United Kingdom.

Amidst growing public outcry for a stronger regulatory grip on crypto exchanges in the aftermath the FTX collapse, the International Digital Exchange Association (IDAXA) has launched a Global Standards Working Group (GSWG), following the recommendations made by Industry representatives at the recently concluded V20 Summit, held in parallel to the G20 Leaders’ Summit in Bali Indonesia. 

In response to a series of unfortunate events rocking the crypto world, a number of Virtual Asset Services Providers (VASPs) have announced specific industry proposals addressed to global regulators, aiming to expand cooperation and enhance dialogue between both sides, while enabling improvements to the existing regulatory mechanisms and compliance infrastructure.

In the aftermath of failed crypto exchange FTX’ filing for bankruptcy, public and regulatory confidence in cryptocurrency have experienced a significant blow.

IDAXA seeks the cooperation of the global Virtual Asset Service Provider (VASP) community, as well as other financial institutions and businesses facilitating digital financial transactions, to identify and prohibit transactions with or between institutions and individuals identified as contributing to the war against Ukraine or any other conflict of war, aggression or terrorism.