The Association for Digital Asset Markets (“ADAM”) is a private, non-profit, membership-based association of firms operating in the digital asset markets. ADAM considers itself a “self-governing association.”
ADAM exists to foster fair and orderly digital asset markets where participants can transact with confidence. The development of digital assets, including cryptocurrencies, digital commodities, and digital securities, has the potential to revolutionize financial markets. ADAM works with leading financial firms, entrepreneurs, and regulators to develop industry best practices that facilitate safe, secure, and efficient digital asset markets.
ADAM was not created to replace or circumvent regulation. Rather, ADAM exists to enable industry to pave the way toward fair and orderly digital asset markets by complementing existing laws and regulation.
ADAM has released a principles-based Code of Conduct (the “Code”). All members plan to sign the Code in early 2020 and adhere to its principles. The Code sets standards of professional conduct and covers the following areas:
ADAM intends to update and improve the Code periodically, and will continuously consult with industry participants, current and former regulators and lawmakers, legal and compliance experts, and academics.
ADAM serves as an information exchange for industry participants, regulators, lawmakers, technologists, and others. ADAM can effectively and efficiently inform its membership of topical issues and its members also can serve as a valuable resource to industry participants or others seeking information about digital asset markets. To that end, ADAM intends to build and maintain strong relationships with a wide range of stakeholders both inside and outside the US in order to learn, share ideas, and coordinate on research, awareness initiatives, or other efforts.
ADAM is not an advocacy organization, has not registered as a lobbying organization, and does not intend to influence policy-making.
In mid-2018, a group of firms socialized the idea of forming an industry group to promote more ethical conduct and professionalism with respect to their engagement in the digital assets industry. Those firms, most of which had participated in “traditional” equities and commodities markets in the US, believed that by organizing together and leading by example, they could create a roadmap on how best to apply existing laws and regulations to activities in digital assets and, importantly, how to adopt additional standards of conduct and best practices in areas of regulatory uncertainty in order to boost digital asset market integrity.
ADAM’s ten founding members began work on our mission and goals, and formed Association for Digital Asset Markets, Inc. on October 24, 2018 as a non-profit under IRC Section 501(C)(6). ADAM formally announced its launch in November 2018 with its ten founding members:
On November 12, 2019, ADAM publicly released its Code of Conduct and announced that members plan to sign the Code in early 2020.
*This information is current as of Q4 2020
BitOoda is proud to be a founding member of ADAM, and we look forward to working with the Association to help realize the promise of digital assets. We fully support this pioneering effort to develop standards that will enable the growth of market integrity, capital formation, and consumer protection.
The best sustainable global markets are born from fair and orderly participation. Consensus building among industry participants fosters capital formation which ignites growth required for digital asset markets to thrive. We are proud to be working alongside a distinguished team of experts at ADAM to promote these ideals with our peers.
To achieve the promise of the digital asset revolution, we need smart policies that will protect investors and consumers, and foster continued innovation. Members of the digital asset community should lead the way to set high standards of conduct, and hold each other to them. The creation of ADAM will do just that, and Cumberland is excited to be part of it.
As the digital asset market expands and matures, all companies and participants in this sector benefit from a high set of standards for professional conduct and industry self-governance. Galaxy Digital is proud to participate in this important ongoing evolution of our industry by joining with ADAM and advancing the Code of Conduct it has developed.
Having been involved since 2013, Genesis has had a first-hand view of the maturation of cryptocurrencies into an institutional asset class. Genesis believes that the formation of ADAM is the next step in this evolutionary process and is proud to be a part of its foundation.
Building a consortium to establish global standards and best practices is a critical endeavor. We look forward to working with the leaders in the space in cooperation with regulators to help this industry realize its full potential.
Firms should feel comfortable when dealing in the digital assets markets and having an industry led group developing practices and standards derived from years of collective experience in other asset classes is a critical step in the evolution of this asset class.
For this industry to thrive far into the future, it’s imperative that we build trust and confidence. With ADAM serving as a strong foundation, the future of digital asset markets will continue gaining adoption.
Accelerated innovation in the development of new financial markets requires clear and objective rules of the road each ecosystem participant can follow. Symbiont believes ADAM will provide the foundation for the development of fair, orderly and open digital markets through productive communication between industry leaders, regulators, and investors. We are proud to be working with digital market pioneers at the forefront of developing this new and exciting market.
XBTO wants to operate under a more clearly defined regulatory framework so that we can trade and invest in digital assets with more clarity and less non-investment risk. With our other founding members, we created ADAM to bring about real change that will protect investors and deter bad actors.