Huobi, a leading global crypto-assets financial service provider, has joined Global Digital Finance (GDF) as a Patron Member and will join the Advisory Council, alongside global crypto-assets leaders Circle, Coinbase, ConsenSys, and R3 and founding members 11:FS, Archax, CryptoCompare, and Metaco.
GDF is an industry membership body promoting the adoption of best practices and conduct standards for crypto and digital assets and digital finance technologies. The organization includes other members such as DLA Piper, Diginex, Hogan Lovells, Bandman Advisors, Cambrial, Elipses, and Messari.
The Patron Board, which Huobi joined, supports the development of GDF’s global strategy. The operator now co-chairs the GDF Market Integrity Working Group, which is developing principles and best practices in the prevention of market manipulation.
Teana Baker-Taylor, Executive Director for Global Digital Finance, commented:”Integrity and credibility of crypto markets are currently major hurdles for mainstream and institutional adoption of digital assets, as well as a key concern for regulators. The goal of GDF’s Market Integrity Working Group is to devise a set of pragmatic, implementable guidelines that, if adopted by digital asset service providers, will promote a fair, ethical and transparent industry.”
Chris Lee, CFO of Huobi and Huobi’s delegate on GDF’s patron board, said: “As a Patron Member of Global Digital Finance, Huobi is honoured and delighted to work with top institutions all over the world. Through our efforts, We have infinite faith in promoting the development of this industry while addressing major issues surrounding market integrity, compliance, practice standards and business model. Huobi believe blockchain technology could benefit all mankind, and we will
continue to devote ourselves to this case.”
Huobi has adopted the GDF Code of Conduct, including Part I:Introduction and Overarching Principles and Part II: Principles for Token Trading Platforms
Elaine Sun, Chief Compliance Officer at Huobi, said: “We are delighted to join Global Digital Finance and this community-led global effort to set standards to promote client privacy and security, promote balanced regulatory policies and compliance, and promote responsible conduct in regards to lending, leveraging, and
making promises to investors.”
Lawrence Wintermeyer, co-chair of the GDF Board of Directors, added: “Over the past 18 months, GDF has gained credibility with regulators and policy makers through the quality work of the Codes of Conduct, working papers, and responses to policy maker consultations, all of which are all developed through GDF’s open global community collaboration with crypto and digital assets firms and traditional finance professionals.”