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  • Cardano becomes a part of London-based Global Digital Finance.
  • The company will be involved in different workgroups.

Cardano (ADA), now the 11th largest cryptocurrency with the current market capitalization of $2 billion, has been in retreat recently. The coin has lost nearly 4% of its value moving in sync with the market. On a weekly basis, ADA is down 10%, trading at $0.0772 at the time of writing.

Cardano wants to shape crypto policies

Cardano Foundation has joined Global Digital Finance (GDF) to be able to work on developing the governance principles for the crypto universe, according to the recent announcement.  

Cardano will participate in several work groups to contribute to the standardization of the rules and regulations for the industry. Namely, it will be engaged in dealing with custody, KYC/AML, stablecoin, and security token related issues.

“The collaboration between the Cardano Foundation and GDF will strengthen ongoing efforts to create best practices and sound governance policies. Effective policies will help the crypto asset market further develop through establishing robust codes of conduct for the sector amid increasing importance of ethics in blockchain and DLT industry,” Bakyt Azimkanov, global PR, communications, and marketing director at Cardano, commented.  

What is GDF

GDF is an industry organization that develops a code of conduct and general principles for token sales, platforms, and funds that deal with the digital assets. The members of the organization should comply with the set standards.