“Protecting Consumers in the Digital Currency Economy” presents guiding principles on consumer protection for businesses working with digital currencies and other blockchain-based assets. The document is the culmination of this summer’s Bretton Woods 2016 workshop, hosted by Consumers’ Research, which gathered regulators, legislators, policy-makers, legal experts, and members of the financial services industry.
The guiding principles document:
- Outlines the state of consumer protection in the digital currency economy for digital currency industry entities;
- Presents a consumers’ bill of rights and fourteen guiding principles for consumer protection;
- Examines the flaws, failures, and weaknesses of existing financial industry frameworks, as well as newer digital currency and distributed ledger products and services;
- Recommends solutions in the fields of asset security, data privacy, usability, and disclosure & liability.
Over the last few years, federal regulators have been advising the blockchain community to develop a set of best practices to address consumer protection concerns associated with distributive ledgers. That’s exactly what we’ve produced here—the first industry-led, self-regulatory effort in Bitcoin/blockchain, based on conversations and collaboration with an incredible variety of experts.
View the complete guiding principles document below or download here: https://www.scribd.com/document/328743389/BW-2016-Guiding-Principles-Draft-for-Comment