Crypto.com Accelerates Global Influence by Becoming a Member of the IDAXA

Crypto.com, a cryptocurrency exchange and app, today became a member of the International Digital Asset Exchange Association (IDAXA), further helping its mission in pushing for worldwide crypto adoption.

The Hong Kong-registered company will now help the IDAXA work to shape worldwide crypto regulation.

The IDAXA works with government agencies, regulators and other international bodies in order to develop legislative guidance and requirements regarding Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

“Joining IDAXA is yet another example of our commitment to achieve our mission of accelerating the world’s transition to cryptocurrency,” Crypto.com Chief Compliance Officer Antonio Alvarez said.

What’s the big deal?

Born last year the V20 summit (v20.io) in Osaka, Japan, the IDAXA’s role is “to expand the global footprint of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term and Crypto Trade Associations as well as its members by championing and safeguarding the industry’s interests and serving as a vehicle towards convergence with the mainstream and enabling inclusive sustainable growth.”

Speaking constantly with policy makers, the body—which also includes crypto big players the Singapore Cryptocurrency and Blockchain Industry Association, Blockchain Australia, Hong Kong Blockchain Association—works to develop legislative guidance and requirements regarding cryptocurrencies.

Next week, for example, the group will meet in Suadi Arabia in a bid to see how it can shape policy around the Financial Action Task Force’s Recommendation’s ‘Travel Rule’, which demands the self-declaration of assets for citizens passing through customs.

Crypto.com’s Global Crypto Usage Push

While Crypto.com, with its app which allows users to buy and sell seven fiat and over 80 cryptocurrencies, is continuing to push for worldwide crypto use.

In just two months, the platform has released seven updated versions of its app—in Spanish, French, Korean, Italian, Portuguese, Traditional and Simplified Chinese, and Turkish. It now reaches 75 million Turkish speakers.

Its move to be a part of the IDAXA shows that it is heavily focused on moulding crypto regulation.

“Not only are they one of the largest cryptocurrency companies in the world, with a presence in major global markets, but their values are closely aligned with those of our organization,” Anson Zeall, Chairman of IDAXA, said.

Crypto.com’s native token, Crypto.com coin (CRO), was today trading at $0.065739, according to CoinGecko data.