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The DCMA introduces global framework for crypto and digital assets

Thursday 23 June 2022 13:17 CET | News

The Digital Currency Monetary Authority (DCMA) has introduced a global regulatory framework for banking and financial services adoption of crypto and digital assets.

The DCMA's executive team has been working with governments and central banks on blockchain and digital currency cryptography since 2013. Their work has been featured by the European Commission, the United Nations, and the World Economic Forum.

The vision for the DCMA stemmed out of a meeting with the People's Bank of China (PBOC) in 2018. Since that time, the DCMA has been invited to review, participate, and collaborate with central banks around the world in their research and development of central bank digital currency (CBDC) from advanced economies, like the European Central Bank, to emerging markets, like the central bank of Ghana.

Universal Monetary Unit, a subsidiary of the DCMA, released the standards and protocol for Crypto 2.0 in collaboration with major central banks. The framework is monetized through the Unicoin network and is available only to governments, regulated banks, and licensed Fintech companies.

The DCMA targets to launch the Unicoin network first with central banks and their member banks in India, Africa, and China.


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Keywords: central bank, regulation, digital currency, cryptocurrency
Categories: DeFi & Crypto & Web3
Companies:
Countries: World
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DeFi & Crypto & Web3