Innovative Collaboration for Crypto Policy Development
Nexo, in its recent announcement, outlined its plans to harness INATBA’s extensive network and influence to actively contribute to the formulation of policies supporting crypto innovation. The collaboration aims to prioritize the security and privacy of users while championing the adoption of blockchain and distributed ledger technology (DLT) on a global scale.
INATBA, an international organization dedicated to advancing the adoption of blockchain and DLT, particularly in Europe, was established by the European Commission in 2019. The organization’s impact became evident through its substantial contributions to the EU’s regulatory landscape, notably influencing the Markets in Crypto-Assets (MiCA) regulation.
Bianca Veleva, Nexo’s Head of Legal and Regulatory Compliance, emphasized the strategic significance of this partnership, stating that, “In the face of our growing industry, we felt the need for a partner to assist us in lending a powerful voice to the blockchain space to shape the standards for legal and regulatory compliance.” She highlighted INATBA’s recent influence on crypto-assets regulation in Europe, citing its direct involvement in defining key aspects within the Markets in Crypto Asset Regulation (MiCA) and Transfer of Funds Regulation (TOFR).
Nexo’s Ongoing Commitment to Regulatory Adherence
This development comes shortly after Nexo achieved two prestigious ISO certifications from RINA, underlining the company’s unwavering commitment to upholding the highest standards within the crypto industry.
INATBA Membership and Collaborative Dynamics
According to information available on the INATBA website, Nexo holds the status of “large category members,” standing alongside global industry leaders such as IBM, Deutsche Börse AG, BBVA, Fujitsu, and Binance. As a member, Nexo is poised to actively engage in and contribute to the overall development and widespread adoption of blockchain technology, aligning itself with renowned entities in the sector.
INATBA’s Varied Working Groups and Task Forces
INATBA’s operational structure encompasses working groups dedicated to finance, legal, privacy, and standards committees. Simultaneously, task forces focused on industrial blockchain, digital credentials, and the metaverse are indicative of the organization’s comprehensive approach towards driving advancements in various facets of the blockchain landscape.
In this collaborative venture, Nexo positions itself not only as a key player in the crypto industry but also as a proactive contributor to the development of frameworks that ensure the responsible and secure evolution of blockchain technology. The partnership with INATBA underscores Nexo’s commitment to playing a pivotal role in shaping the future of crypto regulations and standards.
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