A message from Chris Mitchell

From the Secretariat: Today at Money 20/20 in Las Vegas, DATA announced a new partnership with Washington D.C. based Prime Policy, and the appointment of Chris Mitchell as our new Executive Director, effective November 1st with the start of our new membership year. As DATA welcomes Chris, we encourage you to reach out directly to say hi, and to ask any questions or send any comments on the work we are doing. The ongoing education, standards and policy work of DATA continues as we enter our 2nd year, and we look forward to another year of expansive growth in 2015, with Chris now at the helm. ——————————— From Chris: Earlier today, DATA’s Board of Directors announced my appointment to the organization as its first Executive Director. I am honored and enthusiastic to be working with the Board to lead the organization at such an important time for the digital asset community. As Executive Director, I will be focused chiefly on helping the organization achieve its founding mission: strengthening the ubiquity and usability of digital assets through educational initiatives and consensus-based best practices and standards. I look forward to meeting many of you, if not in the near future, then at DATA’s annual conference this April.  In the interim, please don’t hesitate to contact me whenever I can be of help to you. Best regards, Chris Mitchell... read more

Strengthening Global Reach with Prime Policy Partnership

The Digital Asset Transfer Authority (DATA)  has partnered with bipartisan Washington, DC-based Prime Policy Group to assist in the day-to-day operations of the Authority and help oversee its educational, policy and industry outreach activities. Under the agreement, Prime Policy’s Chris Mitchell will serve as the Executive Director of DATA. “We are thrilled to have the support of Prime Policy Group during this period of incredible advancement for DATA and the digital asset industry,” said Edan Yago, CEO of Epiphyte and member of DATA’s board of directors. “With Prime Policy’s expertise and resources, DATA is now well-equipped to carry out its mission of strengthening public trust in crypto-currencies and other digital assets through critical engagement with policymakers, influencers and consumers themselves.” Established in November 2013, DATA is a US-registered 501(c)(6) focused on spearheading the development of best practices and industry-wide initiatives for companies in the emerging field of digital assets. Digital assets include digital, asset-backed and cryptographic currencies like Bitcoin, Ripple and Ven, along with the emerging ecosystem of distributed ledgers, payment innovations, fiscal tools, and P2P products enabled by these new Internet technologies. DATA acts as a critical feedback mechanism between public and private stakeholders to ensure viability of the public policy balance in laws and regulation governing digital assets. “Since its founding just a year ago, DATA has quickly become the digital asset industry’s primary global facilitator for internal and external engagement on the issues that threaten to slow or promise to accelerate the adoption of crypto-currencies and other digital assets,” said Chris Mitchell of Prime Policy Group. “I’m honored to serve as DATA’s first executive director, and... read more

DATA and ID3 with MIT Media Lab Partner on New Digital Identity Frameworks

The Digital Asset Transfer Authority (DATA) in collaboration with ID3, the MIT Media Lab and over 21 digital asset companies have jointly endorsed a new framework for digital identity, trust and open data. Read the full announcement here. ID3 is a founding member of DATA, and over the last year work among DATA Board Members and the Working Committee on Privacy and Identity have helped shape a dynamic approach to build an open source, secure and trusted platform to advance global digital currency transactions. A set of open principles are at the core of the initiative.  The “Windhover Principles” are being implemented on an open source platform, foundationally based on ID3’s contribution of its Open Mustard Seed (OMS) software platform. As the cornerstone of the new principles and framework, ID3 announced support from a wide range of digital currency and Bitcoin-related companies and individuals: BitPay, BitReserve, Bitstamp, BTC.sx, Coinsetter, DATA (Digital Asset Transfer Authority), Delta, Epiphyte, Erik Voorhees, Hub Culture Group/Ven Currency, LaunchKey, Personal, Personal Black Box, Ripple Labs, SnapSwap, Swarm, Trefoil Labs, Vaurum, Xapo, ZipZap and 37coins. The Windhover Principles for Digital Identity, Trust and Data 1. Self-Sovereignty of Digital Identity and Personal Data: Individuals and groups should have control of their digital personal identities and personal data. Today we communicate, share and transact digitally over the Internet. Individuals who make use of the Internet for these purposes should have control over their digital identities, ensuring individual autonomy, trust in their communications and counter parties, as well as in the integrity of the data they share and transact with. Individuals, not social networks, governments, or corporations, should control... read more

New York State Department of Financial Services Proposed Rules: Highlights

The New York State Department of Financial Services  has issued a proposed comprehensive regulatory framework for virtual currencies. The report covers licensing, application and fees, compliance, capital requirements, custodial issues, record keeping and examinations, disclosures, AML/KYC, cyber security, disaster recovery, advertising, consumer protection, complaints and more. The proposed rules include a 45 day period from the effective date of the guidance to submit an application for licensing, after which any operations will be deemed unlicensed. It also requires companies to appoint a Chief Compliance Officer and Chief Information Security Officer, and to create a Business Continuity and Disaster Recovery (BCDR) plan, along with detailed record keeping of accounts, transactions and other data for up to 10 years. OFAC, AML/KYC and record keeping are a central theme, and could require extensive record keeping and frequent reporting by virtual currency companies, beginning with the following: (1) Records of Virtual Currency transactions. Each Licensee shall maintain the following information for all transactions involving the payment, receipt, exchange or conversion, purchase, sale, transfer, or transmission of Virtual Currency: the identity and physical addresses of the parties involved, the amount or value of the transaction, including in what denomination purchased, sold, or transferred, the method of payment, the date(s) on which the transaction was initiated and completed, and a description of the transaction. (2) Reports on transactions. When a Licensee is involved in a transaction or series of transactions for the receipt, exchange, conversion, purchase, sale, transfer, or transmission of Virtual Currency, in an aggregate amount exceeding the United States dollar value of $10,000 in one day, by one Person, the Licensee shall notify... read more

DATA Meetup at CoinSummit London

CoinSummit London will be held at the East Wintergarden, Canary Wharf  in London from 10-11 July. DATA will be at CoinSummit London, and we have arranged an informal meet up for attending members at 11.00am on Friday, 11 July at Obika, adjacent to the conference venue. This is a great opportunity to get updated on general regulatory news and recent DATA activity, which has focused on industry discussions and the further development of guidelines and best practices by assigned working groups in the weeks since the DATA Annual Meeting in Washington D.C. All DATA members are invited to attend this free meetup, and we hope to see you... read more

Meet the DATA Annual Meeting Speakers

The DATA Annual Meeting provides members and community stakeholders the opportunity to work on strategic development in the digital asset industry. Keynote: Benjamin Lawsky, New York State Superintendent of Financial Services Keynote: David Andolfatto, Vice President, Federal Reserve Bank of St. Louis Adam Shapiro (Director, Promontory Financial Group, ex-Chief of Staff, UK FCA) Berin Szoka, Founder and President, TechFreedom Carter Dougherty, Bloomberg Constance Choi, DATA Secretariat Dan Kaminsky, Security Researcher Donald Terry, Center for Financial Inclusion Edan Yago, Chief Executive Officer, Epiphyte Elizabeth Rossielo, CEO, Bit Pesa Erik Voorhees, Co-Owner, Coinapult Garrett Graff, Editor, The Washingtonian Jason Lamb, Deputy Director on the FSP, Gates Foundation Jerry Brito, Mercatus Institute John Beccia, Circle Internet Financial John Clippinger, MIT Media Lab, ID3 John Collins, Staffer, Senator Carper Jody Westby, CEO, Global Cyber Risk LLC Joshua Fairfield, Professor of Law, Washington & Lee University School of Law Marc Hochstein, Executive Editor, American Banker Martine Niejadik, Chief Compliance Officer, Coinbase Michael Faye, Co-Founder and Chairman, GiveDirectly Mike Stevens, Conference of State Banking Supervisors Pat O’Brien, fmr Asst Secretary, Terrorist Financing and Financial Crimes at Treasury Patrick Byrne, Chairman & CEO, Overstock.com Patrick Murck, Bitcoin Foundation Stan Stalnaker, Founding Director, Hub Culture and Ven Currency Stuart Tyron, Deputy Special Agent in Charge, US Secret Service, DHS Susan Athey, Professor of Economics, Stanford Valerie Szczepanik, Securities & Exchange Commission Wences Cesares, Founder, Xapo Zach Warmbrodt, Reporter,... read more

Annual Meeting Tickets and Official Hotel

The DATA Annual Meeting is coming to Washington DC, 9-11 April 2014. Tickets are now available for the two day meeting, as well as the DATA Annual Dinner, benefiting numerous charities on the evening of 10 April, 2014. Tickets for the conference will be available for purchase in traditional currencies and digital currencies.  For the moment, gala tickets, table tickets and conference tickets are available here. Hotel bookings:  The Dupont Circle Hotel is offering special rates for meeting attendees, including a special relationship with DATA to accept room reservations in Bitcoin and Ven. To reserve a room using Bitcoin, contact the DATA Secretariat. To reserve a room using Ven, shop online at Hub Culture Washington DC. To reserve a room using Fiat, contact the hotel directly, citing... read more

DATA Announces 2014 Board of Directors

The Digital Asset Transfer Authority (DATA) is pleased to announce the 2014 Board of Directors. Constance Choi, General Counsel, Payward Inc. (Kraken), and first interim DATA board member said, “DATA is thrilled to have a strong collective leadership, particularly at this critical juncture in the organisation’s formation. DATA will focus on publishing best practices in AML, data security and consumer protection in dialogue and coordination with policymakers and regulators, and strive to provide accurate information, transparency, leadership and trust from the ecosystem.” DATA conducted board membership elections at the end of February with four seats available. The board will serve staggered terms, and Choi’s seat will be up for re-election in the next general election. The 2014 Board Members are: Constance Choi, General Counsel, Payward Inc. (Kraken) Edan Yago, CEO, Epiphyte John Beccia, General Counsel, Circle Internet Financial Patrick Murck, General Counsel, Bitcoin Foundation Stan Stalnaker, Founding Director, Ven Currency and Hub Culture The DATA Board has met since the February elections. The Board will meet with members at DATA’s first Annual Meeting, 9-11 April 2014 in Washington D.C. An official side event to the World Bank IMF Spring 2014 Meetings, the DATA Annual Meeting will offer education sessions, a charity dinner, and a meeting for voting... read more

2014 DATA Board Elections

Member voting has opened for the Digital Asset Transfer Board elections and runs from Thursday, February 20 at 12:00 PST through Tuesday, February 25 at 11:59 pm PST. Ten candidates are running for an open four board seats, in the first phase of staggered elections. This election will take place using instant runoff.  DATA uses the Single Transferable Vote methodology, which is the most common form of instant runoff when electing multiple people in the same election.  A basic description of the single transferable vote can be found at http://en.wikipedia.org/wiki/Single_transferable_vote. The candidates are: Brock Pierce, Co-Founder & Chairman, GoCoin David Kinitsky, Senior Director & Fund Manager, Bitcoin Investment Trust/Second Market Edan Yago, CEO, Epiphyte Jaron Lukasiewicz, Founder & CEO, Coinsetter John Beccia, General Counsel, Circle Internet Financial John Clippinger, CEO, IDCubed; Research Scientist, MIT Media Lab Michael Bombace, Digital Currency Lead, Booz Allen; Adjunct Fellow, TechFreedom Patrick Murck, General Counsel, Bitcoin Foundation Ryan Singer, Founder, CryptoCorp Stan Stalnaker, Founding Director, Ven Currency and Hub... read more

The Announcement

The Announcement Statement of the Committee for the Establishment of the  Digital Asset Transfer Authority July 30, 2013 At the forefront of emerging payments, virtual currency, and other financial technology innovations, our companies are pioneering new services with potential to reduce the friction and cost of payments substantially and make low cost payment services available to hundreds of millions of individuals and businesses around the world. To reach this potential, to inspire confidence in the services we offer, and to ensure fair and responsible treatment of consumers and merchants, we believe our industry must evolve in compliance with law and regulation. We must work proactively with regulators and policymakers to adapt their requirements to our technologies and business models. We must develop and implement common risk management and compliance standards that address the public policy concerns associated with our businesses. And our firms must build risk management and compliance programs that meet those standards. With these objectives in mind, the Committee for the Establishment of the Digital Asset Transfer Authority will: 1. Develop best practice anti-money laundering and sanctions compliance standards for emerging payments and virtual currency firms; 2. Build public and regulatory confidence by serving as a source of business and technical standards for the prudent and responsible conduct of payment transactions; 3. Engage with member firms, merchants and customers, regulators, law enforcement and legislators to identify and address emergent public policy concerns and risks affecting our industry; and 4. Work to establish the Digital Asset Transfer Authority (“DATA”), ideally as a formal self-regulatory organization, to develop, publish and ensure member compliance with standards. We envision that DATA, when fully established, will: a. Have a decision-making board, a majority of whose members will be independent of the... read more